Over the last generation, Texas has undergone a surprising change. From being a state known for its oil barons and long-horned cattle, Texas has come to be hailed as one of the most exciting and dynamic parts of the country thanks to its nascent tech industry and attractive housing prices.
Cities like Houston, Dallas, Austin, El Paso, and San Antonio have put The Lone Star State on the map as a vibrant and cosmopolitan destination for people who want to sample the unique Tex-Mex culture, and the booming tech industry of Austin’s Silicon Hills means the state is now attracting more digital entrepreneurs than oil patch roughnecks.
The New York City real estate market has long been considered one of the most desirable in America, if not the world, and for years real estate owners took for granted that New York City was always going to be a seller’s market.
That started in change in 2018. A slowing market and a glut of luxury properties in Manhattan that were planned and designed at a time when demand was much higher have led to a surplus of high-end housing and shrinking demand. According to an article in The New York Times from earlier this year, it will take as long as six years to sell the 8,000 new units in Manhattan alone if sales rates remain stable.
There has been much speculation this year about the state of California’s housing market. But while headlines predicting a cool-off in 2020 may be giving real estate investors pause, there is one segment of the industry that stands to gain just as much from a downturn as it has from the meteoric rise of housing prices in San Francisco: realtors.
Realtors are in a unique position when it comes to taking advantage of fluctuations in real estate pricing because they benefit both from seller’s and from buyer’s markets: either way, people need expert help in managing real estate transactions.