Houston is ranked as the fourth largest metro running in the United States, right after behind New York, Los Angeles, and Chicago. A majority of the Fortune 500 energy businesses having headquarters here lending the city a distinct advantage. Marcus Hiles has been positive about this development in Houston. A major part of Houston’s population growth, progress and development have been undeniably caused by the energy business. Similarly, the expansion of the Panama Canal offers eminence to the city, where industrial giants endeavor to beat West Coast in attaining foreign goods. The Port of Houston is the second busiest port in the United States, contending with the Port of Los Angeles for trade, exchange and business. Another highlight of the city is the Texas Medical Center, located just three miles south of downtown, has more than 100,000 representatives and facilities such as hospitals, research organizations, pharmacy schools, nursing programs and a dental school.
As young professionals buy a home later in life, Marcus Hiles plans for continued growth of his complexes and residents. Renting a home has become fashionable across all income tax brackets, and conveniences such as concierge services, fitness facilities, club rooms, scenic views, and tanning decks provide an upscale standard of living for modern young professionals and families. Community social calendars and sustainable development have become standard practice for environmentally friendly and socially thriving millennials. Modern technology and the “Internet of Things” (IoT) is making the rental lifestyle a better option for Texans looking to live conveniently.
Thanks to a collection of changing economic factors, mortgage rates have risen roughly half a percentage point and hit a 16-month high, ”adding hundreds, sometimes thousands, of dollars to a home buyer’s yearly payments,” contributors Patricia Cohen and Conor Dougherty noted in the New York Times. They also concluded that, “The speed and size of the increase took many lenders and borrowers by surprise, and the increase is expected to reverberate across the housing industry, particularly if rates continue to rise next year.” Marcus Hiles maintains that renting is a viable option for those not wanting to undertake the rising costs of home ownership, as such high rates can make it harder for prospective buyers to incorporate the monthly payment into their budget. Additional expenditures resulting from any unforeseen repairs, maintenance, and renovations threaten to add further burdens to the home owner’s finances. While the total cost of an annual lease agreement may be a bit higher than the average year’s mortgage payments, the overall financial burden is significantly reduced when renting, as noted by the U.S. Bureau of Labor Statistics.
Marcus Hiles, the CEO of Western Rim Property Services, says that Texas initiatives have created job growth that outpaces the rest of America. Texas achieved post-recession job replacement two years ahead of the nation as a whole. In January 2016 more than 1.3 million jobs were established, which carried the state to slightly above its pre-recession employment peak. Because the Texas unemployment rates have been gradually less than in the rest of the country – earlier this year, it was 4.4 percent compared to 5 percent nationwide – consumer confidence has been strong. May’s Texas Consumer Confidence Index (CCI), which analyses financial optimism through savings and purchasing habits, was 117.6, in contrast to the U.S. CCI of 92.6. The vigorous Texas economy – stimulated by $5 billion in tax reductions over the past three years – has also been beneficial to the housing market. The annual price of existing homes went up by 5.9 percent and the number of single-family building permits increased by 6 percent. Read More: http://www.marketwatch.com/story/marcus-hiles—-encourages-everyone-to-follow-texas-pro-growth-policies-2016-06-24