The Real Estate Market of Houston, Texas
The economic fall in 2008 was devastating for everyone, but it hit the real estate market worst of all. With money being lost on both the corporation, public, and personal levels no one was willing to take any risks. Businesses that were not prepared to take the hit quickly fell under and families that lost too much money had to sell their homes at low prices in hopes of making some revenue. CultureMap writes that for a while the market stagnated, even if a company was financially stable that weren’t looking to expand, the cost outweighed any predicted reward.
However, something special happened in Houston, Texas. Fairly recent after the real estate market fell. Surprisingly, new companies began to pop up around the city and its neighboring areas after the economy showed signs of recovering. They companies took advantage of the low prices of land and buildings that had been sold or abandoned from other businesses. The low prices of real estate actually helped revitalize the city. Houston was a prime location for new companies to begin and established companies to expand. Houston has more natural resources and free, undeveloped land than any other state in America, with its metropolitan district being almost the size of New Jersey.
As more businesses were constructed, real estate began to grow as well. Those businesses brought and increased amount of available jobs market and in turn attracted more people to the Houston, Texas area. These people had to have places to live so they bought pre-existing houses or became the demand that had new living areas built. More people living in the city meant companies could expand, and the cycle has been continuing to this day. It was very beneficial to jump into this cycle early to gain the most reward.
Haidar Barbouti was one of the property investors who was smart enough to enter the Houston real estate market early in its recovery. Barbouti focuses on the development of his properties and has seen major success with all this acquisitions. He bought the Highland Village and the surrounding Oak Estates apartment homes in 1991, but has been working in the field with his family since 1986. Highland Village has seen many additions under Haidar Barbouti’s watchful eye, including his own restaurant “Up Restaurant”, the Highland Village Pet Adoption Center. Other companies have selected the shopping center as a prime location to set up shop. Apple, Crate and Barrel, and the first Starbucks in Houston have been long time residents of Highland Village. Haidar Barbouti takes pride in being able to work with all the corporations and people that are interesting in supporting his shopping center. He believes that team work is what has made the area so popular and successful.