Getting to Know Houston Better at H-Town Day 2019

Always striving to be the best resource possible for my clients, I’m constantly seeking opportunities to soak up valuable and insightful information about Houston. Last week’s 2019 H-Town Day, an invitation only conference for Houston Realtors, was exactly that type of opportunity. It was filled with info about a variety of Houston-centric topics that I know will allow me to grow, both as a Houstonian and a Realtor.

I’d like to share with you some of what stood out to me from this fascinating day at the Downtown Aquarium:

City Outlook and Financial Forecast—Patrick Jankowski, GHP

Is Houston headed for a recession? According to Patrick Jankowski of the Greater Houston Partnership, not anytime soon.

• Due to the diversification of Houston’s economy, employment continues to grow. Last year, Houston created around 73,000 jobs, which is fairly sustainable.
• The city’s top hiring industries were manufacturing, construction, healthcare, and transportation. Even with oil & gas hiring back fewer workers (compared to the peak), unemployment is at an all-time low!
• 1 in every 6 dollars is tied to exports, regionally. Despite everything going on with tariffs nationally, the Houston region has yet to be affected in a major way. Eventually though, it will be affected in a larger way.
• 40% of Houston’s workforce was born outside the US.
• Future capital expenditures are healthy.
• Single-family mortgage delinquencies are below 3%. Household debt is also low.

So things look good for Houston, but negative headlines could put the fear in many, which could consequently cause businesses and individuals to pull back. So I’m here to tell you not to believe the hype!

Locally and generally speaking, housing values are up and inventory is low. Home prices are outpacing income so affordability is a concern not just locally, but worldwide.

For 2019, Jankowski said energy is not pulling down growth. There is concern with foreign trade though. Q1 GDP will probably be low due to weather events across the country, but expect to see 71,000 jobs created locally.

Houston on the Move—Carrin Patman, Metro Chair

With all that job creation, look for Houston’s population to increase. How will Houstonians move through the city? METRONext is a vision for the future. There have been a number of neighborhood meetings where METRO presents their plan and residents comment. Look to their website for more information and be sure to weigh in on the bond referendum during the November 4 election.

Flood Impact & Recovery Panel

A panel moderated by Boulevard Realty Broker Bill Baldwin brought representatives from HCFCD, FEMA, Army Corps of Engineers, and the City of Houston together to update everyone on flood related projects around the city. With pending changes to the FEMA maps, expect flood insurance rates to change. Per FEMA, rates would not change immediately, but will when you renew your policy. Write your congressperson requesting support of SB7 and SB500.

Those are just some of the highlights, but there was an abundance of great info at the conference so feel free to reach out if you’d like to know more!