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Houston Real Estate Investment Guide

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    Last updated: 06/08/2008     

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Houston

Houston, Texas is big, bold and brawny. With more square miles than some smaller states and over four million residents, Houston is the fourth largest city in America. The Port of Houston ranks second in total tonnage and first in foreign tonnage in the nation. Texas Medical Center, with 42 medical institutions, is the largest medical center in the world. Once an oil boomtown, Houston still claims title as an energy headquarters and is a corporate center for the petroleum industry.

Houston is home base for the National Aeronautics and Space Administration (NASA). Many people around the world remember the historic words, "Houston, Tranquility Base here. The Eagle has landed." A tour of the world of space exploration at Space Center Houston is a must-see for visitors. View Mission Control Center, the dispatching station for space flights. Touch moon rocks, fly the shuttle in a simulator and blast off on an Apollo rocket via a documentary on a five story screen. Want to get in on the action? Just north of Houston, engage the "enemy" in a mock dogfight with the Texas Air Aces at Hooks Memorial Airport. Houston is also a major sports city. Take in an exciting Astros game at Minute Maid Park sports center or Toyota Center-the new NBA basketball and hockey arena. Houston's museum district is the fourth largest in the country with 16 institutions, including the Houston Zoo, Museum of Natural Science and Children's Museum.

If all this isn't enough to keep you busy, the Houston Downtown Aquarium combines spectacular sea creatures with fine dining, a Ferris wheel, aquatic carousel, and a train voyage through fish tanks. Shop the famous Uptown/Galleria area or go on a treasure hunt for bargains every Saturday and Sunday at Traders Village, a gigantic flea market with over 800 vendors. Houston is an outdoor lover's dream. Swing a club at 165 public and private golf courses. Cycle, skate, jog, play tennis or croquet or visit the Houston Arboretum and Nature Center at Memorial Park. Whether you stay for a day, a week or forever, you'll find plenty to do and a warm southern welcome in Houston.

"Houston has risen from the dead (in 1987) to the 3rd largest housing market in the country today. Almost 61,000 building permits have been issued in Houston in the last 12 months. At its current rate of growth, Houston could pass Phoenix as the 2nd largest housing market in the country sometime in 2007.

Houston has always been known for its pro-growth, pro-developer attitudes, which has lead to periods of overbuilding in the past. We were concerned about potential overbuilding in Houston until the terrible tragedy of Hurricane Katrina hit New Orleans several months ago. Now, with tens of thousands of New Orleans refugees finding employment and housing in Houston, we believe the demand for housing is surging and will continue to surge for the foreseeable future.

Houston's pro-developer attitude has helped contribute to maintaining housing affordability. At $141,000 for the median-priced home, Houston has a tremendous competitive advantage with respect to attracting employers and employees to the area. " 

- Source, John Burns Real Estate Consulting, Inc.