- Single-Family Home Sales Went Up Slightly Year-over-Year in January, Found HAR [Houston Chronicle]
- Houston Apartment Market Facing a Sluggish Year as Demand Struggles To Keep Up with Supply [Houston Chronicle]
- Camden Property Trust Gives Declining Outlook for Houston Apartment Market in 2017 [HBJ]
- Atlanta-Based Law Firm Fisher Phillips in Negotiations To Lease Space in One Shell Plaza [HBJ; previously on Swamplot]
- Stone Mountain Properties Has Acquired Beltway 8 Office Flex Center in Southwest Houston [HBJ]
- 1000 Degrees Neapolitan Pizza Slated To Open Third Houston-Area Location Today in Katy [HBJ]
- Houston Texans Grille in CityCentre Has Closed for Some Reason [HBJ]
- Mayor: The Super Bowl Left Houston with a $350M Gain, and Good PR [Houston Chronicle; previously on Swamplot]
- Memorial Villages Police Considering Installing ‘Virtual Gate’ of License Plate Reader Cameras [KHOU]
- Repairs Begin on Texas City’s Hurricane Levee [Galveston County Daily News ($)]
- UH Exhibition Pays Tribute To Late Architecture Professor John Zemanek [Houston Chronicle]
Photo of the former Houston Chronicle building: Russell Hancock via Swamplot Flickr Pool
If I had my way, not only would we do the virtual gate, we would make the villages large gated communities with electronic gate access and manned entrances. It’s easy to tell people who are just “cursing around” and don’t belong here. If Carlton Woods can gate in 3,000 acres, so can we.
It’s a shame The Houston Texans Grill closed. I like watching games there because instead of having to sit thru blaring commercials, they had a DJ that would play music during commercial breaks.
Re Houston Apartment Market article:
“… Houston’s apartment market is facing a sluggish year as demand struggles to keep up with a growing supply …”
That seems like a weird way to look at economics. Demand doesn’t really try to match supply. Supply tries to match demand. Demand is whatever demand is, supply is the variable. Right? At the very least, there aren’t a bunch of people thinking they should rent more apartments because to keep developers from going bust.
RE: Mayor Says $350M Super Bowl Boost
I like the Mayor. I even like the Super Bowl. But, I’m dubious of the $350M boost – unless you say that $345M of that went to the NFL owners.
Plus, the tax revenue of that $350M is significantly lower, which means that the City coffers aren’t exactly brimming over with gold to pay for the pension debt waiting in the wings.
“There are only 27 ways in and out of the villages,” said Asst. Chief Ray Schultz of the Memorial Villages Police Department. “We import 99% of all our criminals.”
-Except the white collar kind, Chief, Memorial has plenty of those.
Can they “virtually” gate Common inside the Villages?
As we will see in the next year (and have already seen in the last) price adjusts so that quantity demanded and quantity supplied balance.
Memebag, you’re basically correct. The demand curve can be moved, but it’s harder to move than the supply curve. For instance, demand can be stimulated by extra supply ( think more lanes added to a freeway increasing the number of commuters who will use the freeway instead of alternatives), but it’s really hard to think of a case where demand for living space goes up except in the case of a population boom.
Both supply shocks and demand shocks can and do occur. In this case, it would be more accurate to say that the demand assumptions underlying a lot of the growing supply failed to materialize (largely due to sluggishness in oil-related employment).
In the wake of this supply overhang, one would expect the prices of new apartments to fall, usually in the form of temporary incentives, stimulating demand for THOSE apartments, and suppressing demand for older properties. While people generally don’t live in more than one apartment, many folks may opt for 2 BRs instead of 1, or 1BR instead of a studio, or a nicer new building over an older one, or an apartment in a nicer neighborhood. People will, on average, get more apartment for less money. On the margins, the overall effect can stimulate demand for housing: kids move out of their parents’ homes, couples delay cohabitating, and cheaper housing can spur migration. Properties that can’t be profitably rented get demo’d or otherwise taken off the market.
Ultimately Say’s Law (supply creates its own demand) dictates that the excess supply being will eventually be taken up, albeit maybe not at a price the owner would like.
@travelguy yes, but their crimes are not committed within the confines of the Memorial villages, therefore not the Chief’s concern…
LOLs at memorial villages. Yeah, of course theft happens when you have to call in outside help every day just to change a stupid light bulb. These old folks are probably just getting scammed right in front of their faces, not robbed.
If they can virtually gate people out, we can virtually gate ’em in. That’s a feature of virtual gating!