Will real estate if Houston go up with pioneer, de bury and chevron coming here?
7 replies (most recent on top)
This is a chevron HQ unit...many CEO, SVP, VPs so the average is very high, just like the average when XOM moved out of Dallas. Many people earning over a Million a year. They will not move the secretaries and administrative folks. HQ units have a disproportionate share of higher classifications than operating units.
OP, just look at the prices now. They've already gone up. Some properties in The Woodlands have doubled in price. Most people from those companies won't be able to afford a house in the Houston area now. They'll be forced to rent or to resign.
@iwx+1tPDdWhx 250K on average ! You're delusional dude. Think 120K average. 250K is for a top performer and there aren't many of those. Also a lot of people won't move. You must do your due diligence a little better.
Yes, house prices inside the loop (heights, montrose, first ward, sixth ward, memorial) will benefit, especially the ones from chevron. These areas plus the woodlands and spring will benefit with exxon folks.
The average salary of the people moving to Houston from CVX, Pioneer, Denbury etc, is probably over 250k per year. River Oaks, West U, Memorial, Heights and Woodlands should benefit. The folks from CA will have millions to invest given the high prices in Bay area. Elite neighborhoods should benefit. Remeber there are probably only 15,000 homes in these elite areas...
What a stupid question for a layoff board. You should have been PIP’d. Now go away.
No. Not enough people moving to impact a city as large as Houston. Besides plan is to drop headcount. Apartments might go up in rent price due to all the BTC expats arriving daily in Houston.