- Shuttered Omni Houston Hotel Near Galleria To Receive $30M Renovation Following Harvey Damage [HBJ]
- What To Expect When the Expanded MFAH Campus Debuts May 20 [Realty News Report; previously on Swamplot]
- Heights Village Signs Taco Concept La Vibra, Still Searching for Second Restaurant Concept [Culturemap; previously on Swamplot]
- What Houston Is Learning About Underground Tunnels To Mitigate Flooding [Houston Public Media]
- SmartAsset Ranks Houston Among the Top 10 Cities for First-Time Homebuyers [Culturemap]
- About 1 in 5 Houston-Area Millennials Live at Home with Their Moms, Finds Zillow Report [Houston Chronicle]
Photo of Harold and Yupon streets: Bill Barfield via Swamplot Flickr Pool
Headlines
I bought in a community that I thought was a step up from inner loop city living. It turns out that of the 4 homes around my house, 3 homes have their married kids living with grandkids living with them. It will be interesting how this dynamic changes school systems in the suburbs.
It only seems logical that we will see a return to multi-generational housing given the rising housing prices and gratuitous square footage that has been built into all the McMansions out there. A 3500 sq ft house with 4 bedrooms is plenty of room for a family of 4 and two grandparents. Having live in grandparents can make a big difference with childcare costs. And keeping grandparents at home into old age with a home health care provider can save tons of money versus assisted living facilities.
Personally I think it is the fault of the parents. They either can’t say “leave the nest” or don’t want to. I was able to survive just fine in Boston/NY in the 80s and early 90s where rents have been and continue to always far outpace most of the rest of the country. But you do have to work! I went to college and worked two jobs. You just figure it out. The Millennial generation is continuously babied by their parents. I just hope they are at least contributing to paying bills and saving so they could eventually move out. If not, the parents end up spending all of their retirement savings by continuously supporting their kids. Will be interesting to see if their children then support the parents after they have sucked them dry of their retirement savings.
@HouCynic – Most likely they will not be financially supporting their parents. From the kids I have seen, they typically dont save or budget their money well. In most cases it looks like a situation without a happy ending.
I’m glad to see that at least one Heights developer is trying to avoid “raucous” places. Once the alcohol ban was lifted, I expected the area to transition to more like Washington Ave. It will take time, but probably will get there.
Here’s the culprit –> https://www.stlouisfed.org/on-the-economy/2018/january/older-workers-account-almost-all-job-growth-2000
@anon22 – 55+ can’t leave the workforce leaving room to under 55 because they are supporting their Millennial kids or trying to recover from supporting adult children. They are likely trying to replenish their retirement savings. Sorry being cheeky. Well partly cheeky and partly serious.
First, the new Glassell is kinda ugly, I think I’ll like the Kinder Building, but the Glassell; uh not so much. Second, they should tear down the Omni, it floods constantly. Just rebuild it up the hill and elevate it accordingly, plus its dated.
Oh and Millennial’s don’t want to work, they just want to cry and moan about how unfair live has been to them. The most spoiled generation in history. GET A JOB!!!
***life
Many suburban builders will tell you that they have programs to use the income of a third adult to help buyers qualify for a mortgage – and it’s just as likely to be a Gen Xer as. Millennial that needs that parents income/assets to qualify.
Haha, figured you were being cheeky since your statement doesn’t line up with any of the facts indicated in the link. Thanks for the yuks comrade. Stay well.
okay – a college degree costs 5x what it used to, there’s 5x as many college graduates and 5x people more qualified than you, homes cost 5x as much…….but we’ll give you the same salary we were paying decades ago due to healthcare and pensions costs of older workers, now have fun buying that starter home
.
most professionals are already being asked to train up their India counterparts, or it’s being done behind their back. there is no future.
I’ve hired, promoted and fired so-called Millennials. Even the ones I fired, I didn’t find to be particularly problematic provided they were treated well. Which happens to be the way I try to treat everyone I work with regardless of age. Maybe I’ve just been lucky, but I sincerely admire many of these young people and am frankly glad I get to manage them and don’t have to compete with them. Some of these folks are scary good.
Then again, when I was their age everyone was pissing and moaning about how terrible us so-called Gen X’ers were. I guess we all can’t be Baby Boomers. Lord knows they’ve always had their sh# together.
@TimP. That’s certainly not the experience I’ve had with Millennials. Yes, I think empirical evidence shows you’re an aberration and you’ve been “lucky†indeed. Got any lotto number suggestions? Thx
The new Glassell building is absolutely hideous. MFAH should have spent their money on buying better art for their collection and simply living with the buildings they had.
Ah, the good old bashing millennials schtick. Because they’re all spoiled brats, and it’s not like the world has changed *at all* since the 60s, right?
Yes, new Glassell building is differnt, and as it slowly built out I became a fan and look forward to it being in my neighborhood. And If you don’t like the Glassell you are absolutely going to HATE the MFAH’s new building for modern art … everyone is a critic and art is ‘in the eye of the beholder’. Let it simmer for a while in the dark recesses of your mind and perhaps you can learn to appreciate it for what it is, an art form posing as Houston’s newest iconic building.
joel: There are tons of job. We pay above market salary for pretty easy (IMO) office type work. It’s super hard to find even semi qualified people. We’ll post a job, get 10 replies, have them come in for an interview. Maybe 2 show up. Of that, one is normally dressed like a homeless person. Can’t speak properly. Etc.
.
The economy is at near full employment. The government really needs to slow down it’s own growth (including military) as they’re sucking all the labor out that could be used for the private sector.
@Anonymous
The new Glassell building is primarily a school. It was never meant to be an exhibition space for MFAH’s collection. Rather than “buying better art for their collection” (?), they’re investing in better artists for the future.
joel’s clearly not an SEC frat boy, so understandably he’s on a wild-goose chase for a silver lining in the pseudo-employment market here in the Death-Star-on-the-bayou.