On Bauer Business Focus — A conversation on Houston’s real estate boom with Andrew Schneider, business reporter for KUHF 88.7 FM.
What’s booming in Houston? Depending on who you ask, you might hear a variety of answers. For Tom Fish, a managing director at Jones Lang LaSalle, it’s real estate. Houston home sales have hit an all-time high for the first time in six years with no slowdown in sight and according to Fish, this is only the beginning for the industry.
Fish stopped by Bauer Business Focus recently to discuss what is behind Houston’s investment boom in real estate.
“I think real estate is being fueled by the three legs of the Houston economic stool that are firing all at the same time,” Fish said. “The energy sector is in a major growth phase right now, our medical industry has been, and continues to be, in a growth phase, and the export business at the port of Houston is doing very well right now.”
As Houston continues to grow, foreign investors are beginning to take note of the real estate prospects, he said.
“Houston has always been a stepchild to other major gateway markets when it came to foreign investment,” Fish added. “Most foreign investors are familiar with New York, San Francisco and Washington, D.C., and a lot of foreign investment capital didn’t travel here. With Houston’s economy doing better than other gateway markets, it has given a rise in foreign investment interest.”
Click here to hear the full interview.