Houston

User Forum Topic
Submitted by spdrun on August 30, 2017 - 10:17am

Does anyone have property there? Is anyone planning to acquire property there?

Submitted by The-Shoveler on August 30, 2017 - 10:41am.

I wonder if we will see some migration back to SoCal from former SoCal residents who had moved to TX.

Submitted by spdrun on August 30, 2017 - 10:56am.

Betting out-migration will be local.

Submitted by FlyerInHi on August 30, 2017 - 1:57pm.

I hope our taxes won't bail them out. If we do, they should bail out our pensions, haha

Submitted by simonbart on August 30, 2017 - 3:21pm.

Time to stop sending 10s of billions each year to Israel, Saudi, Pakistan, Afghanistan etc and start with our own overdue rebuilding.
I'm sick of my tax dollars going overseas to someone else's corrupt govt.

Submitted by FlyerInHi on August 30, 2017 - 5:38pm.

I believe there will be some great investment opportunities in Houston. But for a small investor like me, I'd have to move there to buy and manage.

My contractor friend in Florida used to buy chinese drywall properties and fix them up. Similar opportunities in Houston.

I'm sure the big private equity funds will buy large apartment/condo complexes and get government help to rebuild.

Submitted by spdrun on August 31, 2017 - 8:15am.

Not sure about that -- NJ still hasn't rebuilt properly from Sandy, almost five years on.

Submitted by Escoguy on August 31, 2017 - 8:52pm.

Went to grad school in Houston in the early 90s. My grandfather was City Manager there in the 1960s-1970s.

Many of the flooded areas shown in the news are known flood zones. Especially some of the highway shots.

Some of the new subdivisions should have never been built as the drainage infrastructure put in place wasn't adequate.

These were known issues during Rita (2005).

My sister's house flooded then, she went out of her way to buy a house in a non flood zone this time. (no damage) in spite of being in Spring Texas where some new homes are up to the 2nd floor with water.

It is very tragic what has taken place. I'm not really sure most will recover, this will drag down property prices in flooded areas, increase insurance costs, taxes will likely also go up to pay for better infrastructure. A dirty little secret about Texas is the property taxes (+2%/year is not uncommon. They basically combine what we pay in income tax+property tax into one item.

This may bring about the end of 70M dollar football stadiums as communities may realize they just don't have the funds for necessary infrastructure plus "Friday night cathredals"

On a more positive note, the Texas spirit will come through and neighbors will help each other out. The sense of community is quite strong there. On balance, I'd probably rather have small town Texas neighbors in a cataclysmic event like this.

My aunt will likely go back to work at FEMA for this one too. but eventually when you've seen so many disasters, one has to wonder, when will we learn and just not build in certain areas.

Houston has always been known for sprawl but we can't throw common sense out the window.

Longer term, this may be a foreshadow of what can happen in coastal areas over the next century if the more extreme climate scenarios take place. That at the very least should make anyone living in an area that is less than 20 feet above sea level pay attention to what might happen.

One grandmother lived in Alvin for almost 97 years, her first house was up on cinderblocks (3 1/2 feet above the ground). Back in 1979 it once rained 43 inches in a day in Alvin. Needless to say, her house never flooded. It wasn't that we even talked about why her house was different.

My great grandmothers house was used to house survivors of the great Galveston hurricane of 1900 when 6,000-12,000 people died.

It was built in Victorian style so the downstairs bedrooms were also raised at least four feet off the ground. It stands to this day.

Submitted by moneymaker on September 1, 2017 - 12:33pm.

Joel Osteen has property there, heard he didn't open the doors. Maybe that would have let the water in, but most likely he didn't want the nice seats to get dirty.

Submitted by FlyerInHi on September 1, 2017 - 3:48pm.

Escoguy, as someone who knows the area well, are you looking to buy some investment properties and participate in the rebuilding?

Submitted by svelte on September 1, 2017 - 3:52pm.

Escoguy wrote:
Went to grad school in Houston in the early 90s. My grandfather was City Manager there in the 1960s-1970s.

Many of the flooded areas shown in the news are known flood zones. Especially some of the highway shots.

Some of the new subdivisions should have never been built as the drainage infrastructure put in place wasn't adequate.

These were known issues during Rita (2005).

My sister's house flooded then, she went out of her way to buy a house in a non flood zone this time. (no damage) in spite of being in Spring Texas where some new homes are up to the 2nd floor with water.

It is very tragic what has taken place. I'm not really sure most will recover, this will drag down property prices in flooded areas, increase insurance costs, taxes will likely also go up to pay for better infrastructure. A dirty little secret about Texas is the property taxes (+2%/year is not uncommon. They basically combine what we pay in income tax+property tax into one item.

This may bring about the end of 70M dollar football stadiums as communities may realize they just don't have the funds for necessary infrastructure plus "Friday night cathredals"

On a more positive note, the Texas spirit will come through and neighbors will help each other out. The sense of community is quite strong there. On balance, I'd probably rather have small town Texas neighbors in a cataclysmic event like this.

My aunt will likely go back to work at FEMA for this one too. but eventually when you've seen so many disasters, one has to wonder, when will we learn and just not build in certain areas.

Houston has always been known for sprawl but we can't throw common sense out the window.

Longer term, this may be a foreshadow of what can happen in coastal areas over the next century if the more extreme climate scenarios take place. That at the very least should make anyone living in an area that is less than 20 feet above sea level pay attention to what might happen.

One grandmother lived in Alvin for almost 97 years, her first house was up on cinderblocks (3 1/2 feet above the ground). Back in 1979 it once rained 43 inches in a day in Alvin. Needless to say, her house never flooded. It wasn't that we even talked about why her house was different.

My great grandmothers house was used to house survivors of the great Galveston hurricane of 1900 when 6,000-12,000 people died.

It was built in Victorian style so the downstairs bedrooms were also raised at least four feet off the ground. It stands to this day.

Great post, Esco!

Escoguy wrote:
A dirty little secret about Texas is the property taxes (+2%/year is not uncommon. They basically combine what we pay in income tax+property tax into one item.

When my conservative friends start huffing "I'm moving to Texas with no income tax!", I like to point out that prop taxes are 2-3 percent in most Texas cities. They usually go quiet after that. Can't get somethin for nothin folks!

Escoguy wrote:
Back in 1979 it once rained 43 inches in a day in Alvin.

Didn't know that! I'll use that as a talking point next time my liberal friends spout off saying the Houston deluge was due to global warming. :-)

Submitted by moneymaker on September 1, 2017 - 4:10pm.

The elevation for Lakewood church is 55 ft. so I'm guessing there were no water issues there.

Submitted by FlyerInHi on September 1, 2017 - 4:47pm.

svelte wrote:

Escoguy wrote:
Back in 1979 it once rained 43 inches in a day in Alvin.

Didn't know that! I'll use that as a talking point next time my liberal friends spout off saying the Houston deluge was due to global warming. :-)

"It happened before" is not a convincing argument. The frequency of 100-year events is clear evidence of man-made climate change.

Tampa Bay is next:
https://www.washingtonpost.com/graphics/...

Submitted by svelte on September 1, 2017 - 6:17pm.

FlyerInHi wrote:
svelte wrote:

Escoguy wrote:
Back in 1979 it once rained 43 inches in a day in Alvin.

Didn't know that! I'll use that as a talking point next time my liberal friends spout off saying the Houston deluge was due to global warming. :-)

"It happened before" is not a convincing argument. The frequency of 100-year events is clear evidence of man-made climate change.

Ha ha! Keep'em coming FIH! You're making me giggle!

Submitted by Escoguy on September 1, 2017 - 6:48pm.

There are some very specific areas of Houston which can make for excellent investments. Rentals near the medical center/Rice University (my alma mater). But I wouldn't buy anything over 20 years old due to mold issues which sometimes creep in.

I've considered apartment complexes from time to time in Houston.
Might not be a bad time to look as rents will certainly go higher as some abandon homeownership and just rent while trying to sort things out.

Submitted by FlyerInHi on September 2, 2017 - 9:57am.

svelte wrote:
FlyerInHi wrote:

"It happened before" is not a convincing argument. The frequency of 100-year events is clear evidence of man-made climate change.

Ha ha! Keep'em coming FIH! You're making me giggle!

Well, there are several issues here.

I don't think anyone can deny man-made climate change.

I believe the real argument is whether man-made climate change is significant at all, compared to changes the earth experienced in the past or will experience in the future, regardless of human actions.

People who deny climate change support the fossil fuel industry. But now that renewables have reached economies of scale, the argument is becoming pointless. Countries, states and regions that adopt renewables will enjoy a cleaner environment and faster economic growth from new technologies. Those who don't will stagnate and be passed over.

We are lucky to live in California where we get to enjoy new tech and a cleaner environment whereas other areas of the country provide carbon fuels to power legacy technologies. That trend will be accelerating.

Submitted by Escoguy on September 3, 2017 - 7:35pm.

Thing goes into some more detail on Houston.

https://www.bloomberg.com/news/features/...

And as far as global warming which I all think we need to take action on, here is some real analysis regarding Harvey:

http://cliffmass.blogspot.com

Submitted by livinincali on September 7, 2017 - 11:44am.

FlyerInHi wrote:

People who deny climate change support the fossil fuel industry. But now that renewables have reached economies of scale, the argument is becoming pointless. Countries, states and regions that adopt renewables will enjoy a cleaner environment and faster economic growth from new technologies. Those who don't will stagnate and be passed over.

We are lucky to live in California where we get to enjoy new tech and a cleaner environment whereas other areas of the country provide carbon fuels to power legacy technologies. That trend will be accelerating.

You do realize that California imports a lot it's energy from out of state, and relies heavily on Natural Gas which isn't renewable. That solar farm out in the Mohave desert might make you think CA is supper green and clean but the reality is they just moved the dirty fossil fuel energy production into somebody else back yard.

https://www.forbes.com/sites/judeclement...

Submitted by FlyerInHi on September 12, 2017 - 12:00pm.

As long as our backyard is clean.

My point is that by adopting green tech and new tech we are moving up the economic ladder.

Submitted by FlyerInHi on September 12, 2017 - 12:04pm.

A few earthquakes and wild fires are so much preferable than storms and humidity.

When I visit Florida, I always feel an air of decay from the overgrown vegetation, the "swampy" feeling in the landscape. Not really a good place, overall. But other than some enclaves, real estate is cheap.

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