Sublease Space Piling Up; Where All the Unused Crude Oil Will Be Stored in Houston


Photo of KV Weld in Baytown: Russell Hancock via Swamplot Flickr Pool


4 Comment

  • Denial is a long river. As the sublease space and luxury homes keep stacking up, local economists will eventually figure out what’s happening. Nahh! just kidding. They’ll probably keep towing the line of a gentle correction and “recovery”.

  • This isn’t rocket science. Lots of oil to store, lots of unused sublease space …

  • Residents at the Garden Oaks should be happy that Cody Lutsch has bought the property. He is one of the good guys in multifamily investing in Houston. He sometimes gets overextended, and in certain more vocal neighborhoods he ticks off the neighbors by fixing the bones of his buildings before cleaning up the yards or painting the trim. But he really is in it for the right reasons and does it right.
    To me guys like Mr. Lutsch (and Steven Moore) are the real forces for good when it comes to housing for the poor in Houston. It’s not the Austin or Dallas based “housing activists” who are always interviewed by the Chronicle.

  • Re: Sublease space
    Yup, you could see this coming about 6 months ago when oil was clearly not zooming back up. If anyone wants my Karnak prediction, I’m guessing that oil prices will stay at the current low $30 price until the end of 2017 (next year).
    The Saudis aren’t feeling like playing ball with anyone else on ratcheting back production as long as there is a group of US shale producers waiting in the wings. Consumers are winners for a while but the oil decimation will still affect us.