What Amazon’s HQ2 Decision Means for New York’s Long Island Housing Market

Partnering in the dual HQ2 decision is the city area of DC, which will share the nearly 50,000 new jobs the investment will bring. The split and resulting decreased infrastructure requirements has not only opened up new areas as feasible options but also enables Amazon the chance to create two thriving markets while also tapping into the resources and talent each unique location has to offer.

Looking back to some of the statistics from Amazon’s first HQ location, it would seem each area will need to brace for substantial change. “Whenever new business enters an area, demand for housing is almost always likely to go up along with the rate residents are willing to pay,” shares CEO of Western Rim Properties Marcus Hiles who has over 30 decades of experience in the rental market.

A recent article by Forbes focuses in on this top question on the minds of local residents in NYC — how will this influx of new business impact Long Island’s housing market? The article cites the home prices in Seattle jumped more than 35% after Amazon entered the area. And that’s not the only impact the online giant had on the area’s economy, since 2013 home prices are reported to have risen 73% while rents were up 31%.

However the already over saturated populations in NYC and vast infrastructure that exists or is in development in the area presents a unique opportunity for Amazon. Early on the organization had made many evaluations to understand where the best investment would be location wise. One of those studies focused in on the necessary build up a location would require for the company to move in with tens of thousands of new employees brought with it. Online apartment network HotPads provided its data on the matter which did find many of the locations in the Amazon HQ2 shortlist weren’t fully equipped to handle the new growth right out of the gate and would require considerable ramp up to meet the needs of the new business investment.

Creating the Future’s Top Locations Through Property Development

This competitive rental landscape speaks true even at the top of the rental market with today’s property developers drastically limited with options for breaking ground on new projects. This is not a new trend and has been the case for several decades, one that has successfully pushed both developers and residents into new locations and city burrows that once were not an option for most. But this ability to breathe new life into an overlooked location is one of the most important factors allowing the city to keep on the uprise as it creates the grounds for vibrant new communities with residents and businesses happy to inhabit them.

With experience in both investing and developing in new or untapped areas himself, CEO and Founder Marcus Hiles of Western Rim Properties has seen the impact it can have on the city’s or even state’s whole community. “By creating housing options that are tailored towards introducing new demographics into an overlooked area, you are not only helping to stabilize the housing demand you are also creating opportunities for existing and new residents.” shares Marcus who has made a successful career out of taking a chance on locations that have potential for growth.

National Rental Prices – Where the Opportunity Is for Today’s Renters

Residents of Houston, Texas know what it’s like to endure one of the country’s most severe storms ever recorded. Hurricane Harvey hit the Midwest state in fall 2017 bringing with it severe devastation that has been estimated to have impacted nearly 50% of all homes in the area.

A lot of things impact rent: building size, amenities, housing availability, proximity to central areas and most of all location. When looking nationally the rent variations from city to city can be extreme – especially when comparing historically high-priced areas with that of relatively new up and coming areas. It comes down to the area’s demand – rent has no cap and will go as high as the market allows.

That demand and subsequent price hike can become inflated if a location, mainly metro and city areas become overpopulated. Texas-based property developer Marcus Hiles shares his experience of market inflation by adding, “Take a place like New York City, the introduction of new housing is much more rare than a place like Austin, Texas. NYC’s available space for new property development is scarce and comes at a premium most average renters can’t afford nor makes for a smart decision for investors and developers.”

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A new report by online authority in the rental industry, Zumper highlights this push-pull factor that continues to fluctuate the median rental rates nationally.

According to their data, today’s most expensive rental markets are those you would expect: San Francisco, NYC, San Jose, LA and Boston.

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A Model for Future Development – Houston Weathered One of the Nation’s Worst Storms and Is Rising Above

Residents of Houston, Texas know what it’s like to endure one of the country’s most severe storms ever recorded. Hurricane Harvey hit the Midwest state in fall 2017 bringing with it severe devastation that has been estimated to have impacted nearly 50% of all homes in the area.

Before Harvey, storm destruction was not uncommon but what this category 4 hurricane did do that others could not is influence the cities rebuild and future development on a massive scale.

Historically, the city of Houston has had a relatively unregulated approach to expansion that has acted similarly to the build out methods of other top Texas cities such as Dallas. With an increasing need for housing, commercial buildings and overall citywide infrastructure, the focus had most often been centered on quick turnaround time rather than longevity and ability to sustain Houston’s fluctuating weather patterns.

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Time Recognizes Texas as the Nation’s Best Place to Live

Texas once again leads the ranking for today’s best land of opportunity in both residential and commercial arenas. Frisco, Texas – a once sleepy town of 6,500 residents just over two and a half decades ago, the city now boasts 180k+ residents and has been named the single best place to live in America today.

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In MONEY’s report highlighting the nation’s top 50 cities live in, Time, Inc. and Realtor.com compiled data from over 500 locations across diverse geographical to come up with today’s city leaders. Combining data on growth, affordability and quality of living, analysis was conducted on each city’s economic health, cost of living, diversity, public education, income, crime, ease of living, and amenities. Scoring some of the report’s highest marks on a state-level were those of Texas, which comes as no surprise as the state’s residents and even the national economy has seen and experienced buzz-worthy growth on a top tier scale

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The State of Houston’s Rebound – How Smart-Growth is Helping the City Grow Up, Not Out

Houston, Texas is a city known for the opportunity it brings to both businesses and residents in affordability, landmass and employment opportunities that attract populations from across the state, nation and globe.

Much like the build out methods taken historically in the leading Texas city of Dallas, Houston has been adding on and building out its infrastructure more widespread each year. This continuous expansion to the city and its surrounding suburb communities has created a cycle of high inventories in low-cost commercial and residential properties that is working to disperse populations and consume resources at a large scale.

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The San Antonio Rental Market Hits a High During its End of Summer Push

Thanks to growing interest from Americans and the nation’s largest ever demographic of millennials, industry changes are taking place throughout San Antonio, Texas.

Key to the build out of the area, the city’s housing market has undergone considerable new development- especially during the recent summer months of 2018. Focusing on introducing more urban city living options, new apartment communities have been popping up across the metro. Tailored to both singles and family renters, an infrastructure that attracts residents to both city and key suburban areas are being established and proposed each month. Local property developers are introducing these new projects and expanding on those existing ones to establish more footing in this growing market opportunity.

Just in the last 12 months, 25 new apartment communities have been completed, introducing over 5,000 new units for the area’s growing pool of renters. These new additions to the renter market are not going without demand despite a spike in supply. Monthly report findings from Apartmentdata.com highlights an increase in the average rent per unit and occupancy rates that are continuing to be maintained, throughout recent summer months.

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Texas Attracts More Residents with its Growing Adult Communities

Texas is a state that has been attracting new residents from different demographics and parts of the world for the past decade. With the attractive properties of the state’s top metros appealing to a wide variety of populations, it is a region growing rapidly each year as today’s generations enter new milestones.

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Between the newly growing homeowners and renters pool made up of the millennial generation entering adulthood, much of the focus on the Texasgrowth has been on this age bracket of 20-35. However, the interest of today’s second largest generation of baby boomers are also putting down roots in the state on a considerable scale.

According to a recent report by WalletHub on the Top Cities to Retire nationwide, there are more people moving to Texas than most other states when retiring. Included in the list’s top 100 cities were well known areas like San Antonio, Austin, El Paso, Dallas and Houston among other up and coming locations like Plano, Grand Prairie, Laredoand Amarillo.

This newly stimulated interest has been gaining steady popularity as the state continues to offer the best in affordable opportunities for both businesses and residents. Combined with the generational shift of millennials entering the workforce and housing market in parallel with older generations retiring and downsizing, much of the nation’s relocated populations are concentrating into Texas.

This shift has opened up new avenues for many industries as with the increase of residents and commercial operations has created a demand for more supply. One area that has adapted to this continuous growth cycle is the housing industry. With the inability to build single family housing fast enough to keep up with the pool of new residents; more scalable housing solutions are breaking ground.

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Texas Makes Its Way on the Wine Industry Map

Historically having a short harvest period that sets Texas Vineyards behind, a shift in both wine demand and production methods in the wine industry has recently helped the region sustain a healthy harvest cycle. Now celebrating their annual grape harvest in the summer months of July – that’s four months ahead of growers in the ever-popular Napa region – the state has had one of their most successful seasons producing 38% more than 2017 and is continuing to grow each year.

With the market developing a growing taste for different blends including varietals that have a shorter hang cycle, the state’s wine businesses are reducing their loss caused by those blends that require much lengthier dry times. “Paired with advances in winemaking technologies, mid-west wine producers are able to maximize efficiency and production costs helping them compete better inside and outside of their local markets,” shares Texas-based award-winning wine collector, Marcus Hiles.
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How The Nation’s Top Suburbs are Bringing Greener Developments to the Table

The wish list and must-haves of renters and home buyers in today’s market has drastically changed in recent years. Most seen within the nation’s top surrounding metro areas, residents are putting importance on not only their indoor living area but also their outdoor accommodations.

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Two example locations are suburb areas that border two of Texas’ top cities: Austin and Dallas. Recognized as being some of the best places to live in the state, the suburbs of Allen and Riverside, Texas have been recognized as offering some of the best in balanced living, helping the area’s residents sustain healthy, active lifestyles.

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