Houston Economy...is it out of the recession? (Howe: real estate, homes)

[Dytdude]

I want to know from the locals...not articles, magazines, websites...Do YOU FEEL as if Houston is out of the recession? What industry do you work in? Thanks!

[SouthernBoy205]

I think so.

[DANNYY]

Originally Posted by Dytdude

I want to know from the locals...not articles, magazines, websites...Do YOU FEEL as if Houston is out of the recession? What industry do you work in? Thanks!

If you're talking about the "feel" then in that case, was Houston ever really deep in that recession to begin with? By feel, probably not.

[SouthernBoy205]

Why is that?

[DANNYY]

Originally Posted by A&M Bulldawg

Why is that?

Generally the stereotypical view many have of Texas (Houston in particular as a whole) for the recession was that it was Recession proof, as in the recession did not stop or harm Houston's momentum.

I can agree that by the feel of it, Houston did seem completely unaffected by that recession. A large portion of people carried on with their lives the same way they did before and after the Global Recession. Where as places like Los Angeles and Chicago, more people stayed home and started saving every buck they had for emergency cases.

However, the recession did cost Houston jobs as well (very small margin compared to rest of country), but Houston was able to build and add enough jobs to compensate for the loss and balance it out and now it will be taking job market into surplus.

[SouthernBoy205]

I see.

[desertsun41]

Recession my azz. This corrupt crooked criminal lying govt only just publicly admitted we were in a recession 2 Decembers ago when in fact the recession was 2 years old already. Since that time we have fallen into a depression by all neutral non govt influenced statistics. This said, knowing how long it took these crooks to even admit a recession, how long do you think before they admit we are in a depression? Ain't gonna happen.

Wall St or even banks don't want to ever use that dirty filthy D word either. The economic depression is so volatile right now that even if some one says that word in their sleep this countries economy would completely collapse into a spiral that will never stop spinning out of control.

The economy has lost more jobs last year then in any year since WW2, payroll has dropped to it's lowest level since the great depression, the construction industry has been decimated....I know this personally, factory output has shrunk to it's lowest in our history, once the most powerful companies on earth....companies (GM and Ford) who spelled true American might are dead in the water and have drowned, more then a hundred trillion dollars in real estate equity is lost forever, over a trillion dollars in lost retirement nest eggs gone...poof.......bla bla bla....

History will show something else. When all great downturns appear to hit rock bottom, all the investors come out of the woodwork buying up everything in sight. But as history shows, all suspected rock bottoms always seems to have found an even lower low. More money lost.

The economy in Texas is better then most of the USA but that ain't saying very much. If you are even remotely related to the construction trades then stay where you are. There is nothing here.

But good luck to ya my friend !!!!!!!!

[SouthernBoy205]

Wow!

[DANNYY]

Originally Posted by A&M Bulldawg

Wow!

What Desertsun is saying for the most part has a lot of truth to it. Even though I disagree with a lot of it, I respect his personal observations and experience.

Here in Chicago, you cannot believe how damaged the city is, the same case in Los Angeles. People are scared to leave their homes because they fear they'll spend more than they can use to survive on.

It really is pretty bad in some parts of the country.

Texas has fared very well as a overall state, the effects don't really seem to reflect off of peoples lifestyles there at all, or not nearly as much. The state is very lucky overall, and Houston being one of the luckiest cities in the state.

[SouthernBoy205]

True that.