regarding high rents... the perception of high rents will linger in the market longer than what the actual market rent should be. It will take these new complexes to open offering lower rental rates than their close competitors. A tipping point. That will happen when these complexes have issues in getting the property fully leased out at open. last year There was a property in Midtown that was fully leased out two months before a unit being available. There are others in process of opening soon. Well see...

There are some decrepit properties being replaced by the new complexes. which is helping the rates stay high. but What is crazy to me is the older apartment rental rates are not very far off from the brand new complexes offering incentives.

Regarding the schools, i look at it as HISD maintaining a tradition of catering to lower income familes. And part of raising kids in the city is being apart of the private school scene. Your almost shunned if your kids go public school while living in the city. Its apart of the upper crust networking scene in this city.

There will be some schools begin to turn. Lamar HS being one. But most properties being built(townhomes) are not conducive to raising kids really. THe people buying them are empty nesters and young professionals(and alot of them are putting kids off until their mid 30s-if they decide to have kids).

Look at Memorial Elementary, located around $700k properties and a great park to take your kids to... 80% minority.

This post was edited on 6/6/14 at 10:19 am

2 ...

Report Post

Posted by LSUFanHouston

NOLA

Member since Jul 2009

37333 posts

Posted on 6/6/14 at 10:23 am to cjared036

quote:
There will be some schools begin to turn. Lamar HS being one. But most properties being built(townhomes) are not conducive to raising kids really. THe people buying them are empty nesters and young professionals(and alot of them are putting kids off until their mid 30s-if they decide to have kids).

I think this is it. A lot of people moving into those areas are not the ones that have kids, or will have kids. When it's time to have kids, they will want to move where they can get a yard and let the kids play in it.

This also explains why Katy, The Woodlands, etc is booming as well, but it's a different type of boom. You don't have the big price increases out there, because there is so much land. However, you do have large population increases.

1 ...

Report Post

Posted by Cypdog

Member since Jan 2014

832 posts

Posted on 6/6/14 at 12:26 pm to cjared036

I get the school district/private school thing in parts of west u, belaire, south hampton, etc. But take a place like braeswood or the hieghts. Both those places sky rocketed as well. People would laugh at you 5 years ago if you told them a home would command 7 figures in those areas. Both have homes with yards and TONS of young professionals buying them. Would you see the school districts getting better in those areas?

I am just glad I am not in any of you guys shoes trying to buy a house right now.

1 ...

Report Post

Money Talk - Replies to Post

Return To Board

Page 1

Return To Board