Houston Grapples With Post-Harvey Cleanup; Commercial Real Estate Integral to Recovery

The toll of Hurricane Harvey continues to mount as residents join government officials and insurance companies in assessing the destruction. Damage to 200,000 homes across the region as well as infrastructure and commercial properties will create significant short-term hurdles, but Houston is uniquely positioned for recovery.

Key Findings:

Hotels will support short-term housing needs, with occupancies rising significantly as displaced households fill rooms.
Apartment demand is likely to surge. The significant apartment construction of recent years will be quickly absorbed.
The recovery process will bolster the Houston employment market, creating a short-term surge in hiring and economic growth.

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2017-09-15T16:41:48+00:00