- Rents Will Go Up 2.5% to $1,619 This Year in Houston, Predicts Zillow [Houston Chronicle]
- StreetLevel Investments Closes on 192 Acres of Former Texas Instruments Campus Planned for Mixed-Use Development [HBJ]
- TriGate Capital Buys Northbelt Office Center II at 785 Greens Pkwy. [Realty News Report]
- Tiny-Home Manufacturer Escape Homes Targets Houston [HBJ]
- Revolucion Coffee + Juice Opening in the Heights at 1231 W. 11th St. in March [Eater Houston]
- The New Vibe of Leon’s Lounge in Midtown [Culturemap, previously on Swamplot]
Photo of Glenwood Cemetery: Bill Barfield via Swamplot Flickr Pool
I’m honestly pretty surprised to see rental growth. My understanding was that the high end rental market had been severely overbuilt, and they were now offering a lot of concessions, which in my mind would push down prices a bit.
@MrEction, that’s because it’s a Zillow study, which means it’s as useful as a roll of Sandpaper in the outhouse. They admitted that they have a 70% error rate on any price values in Houston and that their algorithms are geared toward Commiefornia markets. In a nutshell, their numbers are a computer generated opinion of a gluten free hipster in an office in San Francisco above a fair trade coffee shop.
The Chron headline is misleading. The Zillow report is reporting on national trends. It didn’t mention any specific prediction for Houston’s market. There is a statement that “while the expected slowdown is significant nationally, in some local markets, rental growth will just barely cool off.” Houston isn’t listed as one of the markets that will drop significantly like Indianapolis’ expected -1.8%, but it’s hard to parse from the report whether that actually means Houston won’t slow down.
High-end growth may be blunted, but I wouldn’t be surprised if rates are still rising at the low-end of the market.
The Tiny Home movement is starting to get lost; $60K to $100K for a trailer? Why not just buy a real RV?
@Zillow: The immortal Arthur Kornberg once said ‘Don’t waste clean thinking on dirty data’.