- Houston Homebuilders Losing Sales to Resale Market Amid Growing Construction Costs, According to Metrostudy [HBJ]
- Declines in Energy Business Expected To Lower Hotel Demand by 6% by 2017 Just as Supply of Hotel Rooms Set To Increase by 8% [Houston Chronicle]
- Houston’s Creative Economy Has Generated Billions of Dollars, Grown in Employment by 22% in 3 Years [Houston Public Media]
- Texas Medical Center Could Break Ground on New Research Project in the First Quarter of Next Year [Prime Property]
- An ‘Old-School’ Renovation Planned for Old Cheek-Neal Coffee Building [Houston Chronicle]
- Austin-Based Dine-In Movie Theater Moviehouse & Eatery To Open Near Cypress Creek Lakes [HBJ]
- The Durham House To Open Oct. 9 in Former Woodrows Heights Location at 1200 Durham [Houston Chronicle]
- Mama Sumba Sports Bar & Grill Opening in The Pub Room 101’s Former Location in Humble at 9522 N. Sam Houston Parkway E. Today [HBJ]
- Texas Freight Mobility Plan Addresses Challenge of Moving Goods Around the State By Truck, Railroad Car and Barge [The Highwayman]
- Energy Corridor Gets a ‘Woonerf’ Street for Cyclists and Walkers [Houston Public Media]
- Remembering Houston Architect and Landscape Architect Charles Tapley [Glasstire]
Photo: Marc Longoria via Swamplot Flickr Pool
Headlines
RE: Hotel Demand Down by 6%, Supply Up by 8%
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I don’t mind this “perfect storm” to bring down room rates temporarily – plus the overall real estate market could use a breather. The hotel industry will be fine.
Glad to keep seeing these articles about the softening of the new home market. The growing difference in price between new/old is just a reflection of building a home in a boom market with increased land/material/labor costs. Not a problem the past couple years with strong demand and existing homes selling quickly, but that ship has already sailed and this is a new market.
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Commodities have been dropping like a rock lately including lumber so stocks prices of the home builders won’t be far behind. I certainly wouldn’t pity them, they’ve got substantial profit margins to keep them sleeping well at night. Once land/materials/labor revert back to the mean trend line they’ll start the same process all over again