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The Boulevard Fill out a Rental Application Redeem Your Points Houston developers had in recent years focused on luxury housing for petroleum executives and other wealthy professionals, Gilmer said. When falling oil prices tanked the oil industry in 2014, builders scrambled to retool their offerings for smaller pocketbooks.
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1 / 26 Remarkable Stay Alfred at The Star $1,655 Midtown Submit a New Service Request ‘We don’t have anything’: landlords demand rent on flooded Houston homes Garage Apt / Guest House
Thousands of flooded homeowners did not have flood insurance, putting them and their mortgage lenders in peril of default, said Redfin’s Richardson. So far, she said, most banks are not extending much grace to borrowers: three months of forbearance, after which the missed payments are due.
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Barron’s Aurora, Colorado Springs, Thornton, Westminster View Our Sudhoff Companies Cheap Charlotte Apartments But supply is still constrained, especially for homes costing less than $200,000 in distant suburbs, Gilmer said.
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But further help is needed, as Houston mayor Sylvester Turner stressed on Sunday, when he was asked on NBC what his priority areas were. “Housing, housing, housing,” Turner replied. The mayor has asked Donald Trump for more federal help to help repair homes but even that expanded initiative would only cover 35,000 dwellings.
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Bordersville WSJ Conference FILE PHOTO: Houses are seen submerged in flood waters caused by Tropical Storm Harvey in Northwest Houston, Texas, U.S. August 30, 2017. REUTERS/Adrees Latif/File Photo
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Bunker Hill Village Houses The experience of New Orleans gives some insight into what may lie ahead for Houston. In the 10 years after Hurricane Katrina, average home prices rose to $339,743 in 2015 from $228,620 in the first half of 2005 – an increase of 48 percent, according to an analysis of New Orleans Metropolitan Association of Realtors data by Real Property Associates.
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