>>However, luxury is being favored: Metrostudy reports that new home starts priced below $199,000 are down 66 percent since the first three months of 2010. Homes in the $200,000-$299,000 price range are up 114 percent since the same time period, and homes in the $400,000-499,000 range are up 261 percent.
It’s not considered “luxury”. Blame the city government (which is bed and has been in bed with developers for decades now).
Mayor Leepy Brown didn’t like that there were houses worth less than $250,000 in Houston. Said they weren’t bringing in enough on the tax rolls.
And Brown was followed by Mayor White and Parker and now Turner.
Starter homes are a thing of the past.
Don’t tell the Democrats; their heads might Explode!
“Houston metro ranked No. 4 in job growth; No. 2 for adding new homes, Metrostudy says”
Where does it rank as a sucky overcrowded congested democrat big city shithole?
Both are unstable and lead to busts.
I'd rather see slow and steady which leads to long-term stability.
If people rush there because of the hype and the bottom falls out what's left behind is government dependent unemployed and houses left to decay by banks.
Look at the chart at the link. The bust has happened before and this article seems to be hyping the current trend (which as I said, is never a good model for stable growth).