The real estate scene in Houston, Texas was shook to its core from 1981 to 1984 when people suddenly began moving away. Within three years, 210,000 people had left the city, causing retail real estate and housing prices to plummet in response to the lack of renters and buyers. Houston later recovered by becoming the nation's energy capital, drawing residents back, and boosting up the real estate market.
Today, Houston is no longer the single-industry town it once was, keeping the real estate market not only stable, but thriving. A town that re-invented itself from the energy-only industry it was in the past, to a city that estimates to create 60,000 to 70,000 new jobs each year, happened because of innovative leaders and real estate investors with big visions for the city.
A prime example of …show more content…
Changing demographics have realtors switching their strategies to appeal to multicultural buyers. The city, which had primarily white residents in the 1960s, now is home to one of the most diverse ethnic and cultural populations in the country. Currently the fourth most populous city in the nation, new immigrants are expected to continue to help the city grow and diversify.
In addition to new immigrants, Houston has also attracted international buyers and businesses. The global influence of Houston is increasing, particularly in the construction and energy sectors. Foreign investors who are deciding to set up their businesses in Houston have fueled the real estate market, as realtors help the new residents to relocate to the city.
Visions for the thriving city, innovative real estate developers and investors, new immigrants and international buyers all have helped the Houston real estate industry to grow. Homes in the city, which currently average over $400,000, continue to attract the new residents, keeping realtors busy and the real estate market
Today, Houston is no longer the single-industry town it once was, keeping the real estate market not only stable, but thriving. A town that re-invented itself from the energy-only industry it was in the past, to a city that estimates to create 60,000 to 70,000 new jobs each year, happened because of innovative leaders and real estate investors with big visions for the city.
A prime example of …show more content…
Changing demographics have realtors switching their strategies to appeal to multicultural buyers. The city, which had primarily white residents in the 1960s, now is home to one of the most diverse ethnic and cultural populations in the country. Currently the fourth most populous city in the nation, new immigrants are expected to continue to help the city grow and diversify.
In addition to new immigrants, Houston has also attracted international buyers and businesses. The global influence of Houston is increasing, particularly in the construction and energy sectors. Foreign investors who are deciding to set up their businesses in Houston have fueled the real estate market, as realtors help the new residents to relocate to the city.
Visions for the thriving city, innovative real estate developers and investors, new immigrants and international buyers all have helped the Houston real estate industry to grow. Homes in the city, which currently average over $400,000, continue to attract the new residents, keeping realtors busy and the real estate market