Houston's SXSW, Metro rail update, and more
Just want to pass along a few smaller misc items tonight:
Houston, like Dallas, held up while many other cities were showing the strains of an economic slowdown. But job growth and the brisk business of oil and gas exploration have come to an abrupt halt.
Vacant or unfinished shopping centers dot the highways. Among the 8.4 million square feet of office space under construction or recently completed in the metropolitan area, 80 percent has not been leased. As a result, the vacancy rate is 11 percent and rising.
“I see a wave of troubled assets coming out of Texas in the near future,” said Dan Fasulo, managing director of Real Capital Analytics, a real estate research firm.
Thanks to those who attended my event last night with EGB
. The room was full, the Q&A was engaging, and the feedback was very positive.
Labels: development, economy, energy, Metro, rail