Vigorous continued demand for Houston homes left some realtors surprised after the city endured catastrophic flooding. For a lot of new construction, elevated homes may become the norm.
Houston has long symbolized the Sun Belt's magic brew of abundant housing and plentiful jobs. Annie Correal and Conor Dougherty write, "The Houston metropolitan area grows by about 400 people a day and builds 40,000 housing units a year, making it the nation's largest new-housing market, with 7 percent of residential construction. With light regulation and a civic model tied to growth, it has kept housing prices low by building everywhere and anywhere, and fast."
All of that got thrown into question when Harvey did its damage. But now there seems to be little doubt that Houston's bumper housing market will live on. "But as insurance and government money comes in, developers and real estate agents are betting that the area will quickly clear the backlog and continue along its normal trajectory of adding homes and people."
In the short term, undamaged homes may be at a premium. "At the same time, many economists are forecasting that the price of undamaged homes will rise as demand outstrips supply. Early estimates suggest that tens of thousands of homes were damaged, and developers are worried about labor shortages as repairs get priority over new construction."
As you'd expect, elevated homes fared better in the floods. They may become the new normal as flood insurers make elevation a requirement to head off future storms.
FULL STORY: Houston’s Unsinkable Housing Market Undaunted by Storm
A Year After Harvey, Homes Still Going Up on Houston Flood Plain
Despite the devastation wrought by Hurricane Harvey, builders and buyers alike are sustaining a market for new construction on land likely to get flooded again.
Houston Seriously Tightens Rules on Floodplain Construction
It was the city's "first major regulatory response" to Hurricane Harvey.
How the National Flood Insurance Program Sabotaged Itself
Having charged low rates during years of bumper development, the National Flood Insurance Program worked at cross-purposes with itself while development continued on.
Americans May Be Stuck — But Why?
Americans are moving a lot less than they once did, and that is a problem. While Yoni Applebaum, in his highly-publicized article Stuck, gets the reasons badly wrong, it's still important to ask: why are we moving so much less than before?
Using Old Oil and Gas Wells for Green Energy Storage
Penn State researchers have found that repurposing abandoned oil and gas wells for geothermal-assisted compressed-air energy storage can boost efficiency, reduce environmental risks, and support clean energy and job transitions.
Placekeeping: Setting a New Precedent for City Planners
How a preservation-based approach to redevelopment and urban design can prevent displacement and honor legacy communities.
Study: Maui’s Plan to Convert Vacation Rentals to Long-Term Housing Could Cause Nearly $1 Billion Economic Loss
The plan would reduce visitor accommodation by 25,% resulting in 1,900 jobs lost.
Idaho Data: Unexpected Vehicle Repairs Exacerbate Housing Instability, Eviction Risk
Over 21 percent of clients struggle with transportation barriers.
A Year-Long Investigation On Permanent Supportive Housing
The New York Times reveals what’s working and what’s not in the cornerstone of Housing First.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Heyer Gruel & Associates PA
City of Moreno Valley
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Salt Lake City
NYU Wagner Graduate School of Public Service
City of Cambridge, Maryland