The developing municipality region of Houston positions as the fourth biggest metro range in the United States, coming in just behind New York, Los Angeles, and Chicago. A majority of Fortune 500 energy companies are headquartered here, giving the city an exceptional impact in the worldwide energy industry. A lot of Houston’s occupations and development have been driven by the energy business. The development of the Panama Canal additionally offers enormous advantages to the city, where industrial giants endeavor to beat West Coast rivals in attaining foreign goods. The Port of Houston is the second busiest port in the United States, quickly competing with the Port of Los Angeles for exchange and employments. Also, the Texas Medical Center, sitting only three miles south of downtown, has more than 100,000 representatives and includes facilities such as hospitals, research organizations, pharmacy schools, nursing programs and a dental schools. Marcus Hiles has been confident of the growth of Houston.
Real estate market trends correlate with periods of population and economic growth at state and municipal levels. Marcus Hiles noted that upmarket rental demand expanded regionally in 2015, and according to recent statistics from the Department of Labor, Dallas expanded its labor force to over 3.75 million with one of the lowest unemployment rates in the United States — ending 2016 at 3.5%. Across the state, over 69,000 new apartments were constructed in 2016, largely focused in the four main metro areas.
Throughout the United States, real estate markets witnessed a small, yet steady spike in mortgage rates in 2016, with a big increase transpiring towards the end of the year. Texas real estate developer Marcus Hiles notes that in the Dallas-Fort Worth metroplex, there was a 12 percent rise in home prices over the past year alone — the third biggest jump in the country. Although higher interest rates and home values remain manageable for some, many potential buyers now find themselves unable to afford a home within a housing market that was already struggling to meet home ownership demands prior to the rate and property value increases. Hiles, CEO of Western Rim Property Services, offers a practical solution — upscale rental units managed by his company, offering luxurious homes at an affordable cost that remains unaffected by variances in housing price trends.
Marcus Hiles, real estate expert and CEO of Western Rim Property Services, says that the lone star state’s policies have caused employment growth that outperforms the rest of the country. Texas achieved post-recession employment gain two years ahead of all other states. At the beginning of 2016 more than 1.3 million jobs were established, which took the state back to its pre-recession employment peak. Because Texas’ unemployment rate has been increasingly lower than in the rest of the country – earlier this year, it was 4.4 percent compared to 5 percent nationally – consumer confidence has been strong. The solid Texas economy – moved by $5 billion in tax deductions over the past three years – has also brought advantages to the housing market. The annual price of existing properties increased by almost 6 percent and the building permits for new properties has climbed as well. Read More: http://www.marketwatch.com/story/marcus-hiles—-encourages-everyone-to-follow-texas-pro-growth-policies-2016-06-24