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(08-30-2017 12:00 AM)Disco_Volante Wrote:  

IMO Houston won't recover. Pro-longed low oil prices, demographic change toward socialism (most recent mayors have been democrats), now this. Prior to this, zerohedge had extensive articles on Houston having the most vacant commercial spaces with companies downsizing. It's become obvious what happens if you buy property near the gulf of mexico....I can't imagine another wave of investment to rebuild it all. From what I've heard Houston has been slowly turning into a shithole long before Harvey.

Houston's economy has been pretty solid the last few years, with high demographic growth and low unemployment. Its economy has diversified, while at the same time being the energy industry capital of the world. It has very low housing prices and a pro-business diversified economy. It's going to bounce back, albeit with more zoning laws and tighter norms, you're going to see for instance new houses built on stilts in flood-prone zones.

You're actually going to see a construction boom there in the next few years as people are going to rebuild.