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Q&A Steven Spillette: 2016 Presenting Challenges to Houston Home Building, Multifamily and Office Sectors

HOUSTON – Few people can judge the lay of the land better than an urban planner. Steven Spillette, an urban development strategist also experienced in real estate and urban planning, has done a variety of market studies and financial pro-forma analyses for private and public clients related to single family and multifamily residential, retail, office, industrial, hotel and meeting facilities, ... Read More »

Marathon Oil Tower Expected to Fetch $300M; And Change Houston’s Investment Narrative

HOUSTON – CBRE Global Investors is selling the 1.2 million-square-foot Marathon Oil Tower in Uptown Houston for at estimated $300 million or $250 per square foot, according to Real Estate Alert. CBRE has been retained to market the 41-story building, 5555 San Felipe, near Yorktown Street. Marathon occupies 62 percent of the building. Baker Hughes Oilfield Operations occupies 42,000 SF, ... Read More »

Construction Cranes: Houston’s Endangered Species? The Q&A with Michael Scheurich of Arch-Con Corp.

With its continued dependency on the energy sector, Houston has been greatly affected by the downturn in the oil and gas industry. No where is this more evident than in the cranes that dot the Houston landscape. To gauge the health of the construction sector, Realty News Report talked with Michael G. Scheurich, President & CEO of Houston-based Arch-Con Corporation, a Texas-based general contractor ... Read More »

Houston Added 57,000 New Jobs in Last 12 Months

HOUSTON – Houston has gained 57,000 new jobs over the last 12 months, including 4,300 new jobs in June, the Texas Workforce Commission reported. Although Houston has lost jobs in the manufacturing sector, the overall unemployment rate is low. The unemployment rate stood at 4.3 percent in June, an improvement from 5.3 percent a year earlier. Houston gained over 100,000 ... Read More »

Houston Gained 57,000 New Jobs in Last 12 Months

HOUSTON – Houston has gained 57,000 new jobs over the last 12 months, including 4,300 new jobs in June alone, the Texas Workforce Commission reported. Although Houston has lost jobs in the manufacturing sector, where there have been layoffs for the blue-collar workers who produce drill bits and oilfield equipment, the unemployment rate is low. The Houston area unemployment rate ... Read More »

Houston Forecast: Economist’s Gloomy 2015 Prediction Will Be Wrong – Again

Editor’s Comment by Ralph Bivins:  Bill Gilmer, director of the Bauer Institute for Regional Forecasting at the University of Houston, delivered an incredibly gloomy economic forecast last week.  Gilmer told a crowd at the Hyatt Regency that as few as 13,000 jobs will be created in Houston in 2015. Before we dive into a panic, take a minute to consider ... Read More »

Houston Adds 96,700 Jobs, Despite Oil Woes

HOUSTON – Despite the downbeat tone of economy in the oil-rich Lone Star State, Houston continues to put up some impressive jobs growth numbers. The Houston metro area created 96,700 jobs in the 12-month period ending February 28, 2015, according to the Texas Workforce Commission. The Dallas-Fort Worth metro led the state in employment growth, creating 132,400 jobs, San Antonio-New ... Read More »

Houston Gains 125,000 Jobs – Best Job Growth Since 1981

HOUSTON – Don’t write off the Houston economy just yet. Demonstrating the healthiest hiring pattern in 33 years, Houston created 125,300 jobs in the last 12 months. It was the strongest job growth for Houston since August 1981 when 127,700 jobs were added. Over the last year, Houston’s strongest sectors for hiring were energy and construction. Houston has been leading ... Read More »

Economist: Oil Prices Below $75 Could Make for a Bumpy 2015

HOUSTON – Falling oil prices are going to sap some of the momentum out of the Houston economy, particularly if oil remains below $75 a barrel in 2015, says Dr. Bill Gilmer, economist with the University of Houston’s Institute of Regional Forecasting. If West Texas Intermediate spends a lot of time below $75, Houston job growth could fall to 58,300 ... Read More »

Registration Opens for Univ. of Houston Institute for Regional Forecasting’s Spring Economic Symposium

FEATURED EVENT HOUSTON – Registration has opened for Spring Symposium, a prominent real estate and economic forecast by the University of Houston’s Institute for Regional Forecasting at the Hobby Center for Public Policy. Interested parties are encouraged to make reservations promptly because the Symposium has sold out in two days in prior years. The Symposium and luncheon, will be held ... Read More »

National Real Estate Recovery: A Gradual Reality

By Ralph Bivins ANAHEIM, Calif. — The nation’s residential realty market is improving, but it may be two or three years or so until the market is completely healthy again, according to Lawrence Yun, chief economist of the National Association of Realtors. Existing-home sales are forecast to increase about 1 percent in 2011, and then rise another 4 to 5 ... Read More »

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