Houston's Giant and Diverse EconomyJun 28, 2017
FIG is proud to announce it's officially taking reservations on its new project in Spring, TX, part of the Houston, TX metro!
When it comes to Houston, there's often the stereotype that everybody wears a cowboy hat and has an oil pump in their backyard! So it's understandable that when oil prices beat up, investors instinctively get nervous. But remember the great quote by Warren Buffet: "Be fearful when others are greedy and greedy when others are fearful."
Digging into the stats of Houston, there is a huge reason for investors to be optimistic! While oil prices have an influence on Houston, there is only one energy company in the top 5 largest employers in the metro. Houston has been shedding it's oil dependency to the point that any losses of jobs in the energy sector have been more than made up for in other areas.
A recent article by the International Business Journal gives some compelling points about Houston:
- Houston is the fourth largest economy in the United States
- Houston is the 23rd largest economy in the world
- 80% of retail construction projects are already pre-leased
- Houston is projected to create 30k new jobs in 2017
- Healthcare accounts for 1 in 9 jobs in the region
- Daikin Industries just announced a 497 acre, 417 million facility
- Pulte Homes just announced a new 280-acre housing development in NW Houston
- Amazon.com announced a new fulfillment center, adding 2500 jobs
We love the Houston market and will continue to keep you updated on the progress of our projects there!