When Will The Houston Texas Apartment Specials End?

Houston Texas Apartment Specials

When will the Houston Texas apartment specials end? Probably not as soon as many local economists are hoping for. I will explain why, but before I do enjoy this interesting podcast with the Houston Chronicle’s real estate reporters Nancy Sarnoff and Erin Mulvaney. In this podcast Bruce McClenny offers some nice historical perspective of the Houston apartment market and why … Read More

Katy Area Rents Continue Downward Trend In January

Katy Rent Prices

Katy rent prices continued their downward trend in January. Preliminary data for closed leases in Katy’s relocation market indicate a year-over-year price drop of more than 5 percent. As noted in the chart above, closed lease prices in Katy’s most popular master-planned community were the lowest they have been in years in January, even below the weakest numbers seen in … Read More

Texas Housing Market Meets The Fed’s ‘Game of Thrones’ Economy

The latest issue of Tierra Grande is out, and it contains more examples of the Federal Reserve’s fingerprints on the Texas housing market. This new batch of evidence is contained in an article titled ‘Game of Homes – The Supply-Demand Struggle’. What is thoroughly entertaining is that the two Dallas Fed employees (both recent college graduates apparently) working on this … Read More

Fed Hikes Rates, Four More Increases Projected In 2016?

As expected the Federal Reserve hiked the benchmark Fed Funds rate to 0.25 percent, putting the target rate between 1/4 to 1/2 percent. This comes after 9 years of driving rates into the basement! Interestingly the Fed forecast rate of 1.375 percent remained unchanged. This implies that the Fed will hike rates 4 more times next year. Will that actually … Read More

Jobs, Interest Rates, Fed Folly & Housing

It was another interesting week, culminating in a sleeper of a jobs report. The November employment report from the BLS showed that the U.S. gained another 211,000 jobs. Of course the only problem is anyone with a functioning brain knows by now that the headline jobs numbers are a complete farce. The sad reality is that there are still 94.4 … Read More

Hovnanian Shares Plummet 14 Percent, Homebuilders Standing At The Precipice

“Oh, what a tangled web we weave, when first we practice to deceive.” Shares of Hovnanian Enterprises fell out of bed again today, plummeting 14 percent to close at $1.71 per share. Hovnanian Enterprises (HOV) is now down a whopping 50 percent YTD, with no signs of the hemorrhaging ending anytime soon. If anything, the drop in Hovnanian’s stock seems … Read More

City Of Katy’s Newest Master-Planned Community Has A Glaring Problem

Many Katy area homeowners had a case of sticker shock when they opened their 2015 property tax notices. There may soon be a new crop of homeowners within the City of Katy who also receive a warm welcome from the local central appraisal district. Cane Island, one of the newest master-planned communities in Katy offers some some wonderful new home … Read More

Dallas Fed – Texas Manufacturing Activity Continues To Weaken

The March readings for manufacturing activity in Texas showed continued weakness in the Lone Star State. Readings from the March report show that the Texas production index posted at -5.2, the first negative reading in two years. Other measures of manufacturing activity were negative in March as well. The general business activity index declined 6 points to -17.4. The hours … Read More