Houston Economy is Predicted to Flourish for the Forseeable Future
Houston’s economy will continue to flourish for the forseeable future, despite the nation’s credit crisis (Houston Business Journal 11/19/07).
The TrendLines report, researched by Transwestern affiliate Delta Associates, projects an average of 60,000 new jobs in the Houston area each year through 2009. Job growth will cause office vacancy to decline and office rental rates to increase through the end of 2008, the local commercial real estate firm predicts.
On the industrial side, TrendLines shows demand for distribution and warehouse space will remain strong as the declining dollar helps boost exports. New industrial space will begin to accommodate demand, which will cause an increase in vacancy and the rise in rental rates to slow by year-end 2008.
Chip Clarke, president of Transwestern’s Gulf Coast and Mountain regions, said the growth in the energy sector and diversity among other sectors puts Houston in a good position to weather uncertainties in the financial markets.
The TrendLines Group researches markets to look for opportunities, build industry maps, and explore the competitive landscape to see the “bigger picture.” They analyze strengths and weaknesses to develop an understanding of markets, industries, players, and key competitive advantages.