The article the OP cites noted that BCS is the most difficult market in the entire state to buy a house, based on median income and median listing prices. "In the entire state" is a pretty powerful statement.
Good economy in BCS
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Last: 7 yr ago by Slocum on a mobile
quote:Yup. The amazing thing is, it's still possible for regular folks. I think Texas in general is a less expensive place to live than other high population states like New York & California.
The article the OP cites noted that BCS is the most difficult market in the entire state to buy a house, based on median income and median listing prices. "In the entire state" is a pretty powerful statement.
We have a very bi-modal economy. Super interesting from an economic standpoint.
There are a high amount of young people (college students) who are funded by parents who work/live in larger cities with probably better/decent income + funded by student loans --> push up rental prices/home prices.
A growing number of retirees (baby boomers), who have lived in big cities, are retiring and moving back to college station, who sell their expensive homes in bigger cities and then can afford a modest (yet expensive to locals) homes, thus pushing up property values.
From a realtor I discussed with is that homes in the $120-220k are still moving like hot cakes. However, homes north of $350k have slowed down substantially.
There are a high amount of young people (college students) who are funded by parents who work/live in larger cities with probably better/decent income + funded by student loans --> push up rental prices/home prices.
A growing number of retirees (baby boomers), who have lived in big cities, are retiring and moving back to college station, who sell their expensive homes in bigger cities and then can afford a modest (yet expensive to locals) homes, thus pushing up property values.
From a realtor I discussed with is that homes in the $120-220k are still moving like hot cakes. However, homes north of $350k have slowed down substantially.
quote:You don't say.quote:Yup. The amazing thing is, it's still possible for regular folks. I think Texas in general is a less expensive place to live than other high population states like New York & California.
The article the OP cites noted that BCS is the most difficult market in the entire state to buy a house, based on median income and median listing prices. "In the entire state" is a pretty powerful statement.
quote:Remember..when all of the smoke clears BCS is STILL a college town.Wouldnt be anything more than a Navasota sized stop on the way to Waco juts like Hearne and co if it wasn't for the University.
So, techno, let me guess, you are making in the $40 - $60k range, and Mrs. Techno works as well? Dual income, no kids? If I am correct, yeah, you're doing great. As others have said, there is a lack of larger employers that have to compete at a national level, therefore the school and the other businesses here only have to compete on a regional level, and as long as the big player in the market keeps wages low, everybody else will too. If I'm a business owner, I am going to pay the prevailing wage, and make more profit from my schlups, it's human nature.
I have seen this town chew up and spit way too many good people since I moved back thirteen years ago. Often times, a person has a $40k job, and gets canned (Sharp?!?!?) Then it's impossible to find another. They burn through their $401k searching for a job that never comes, and they walk away from their house, and move in with mom and dad at age 35. Happened to a couple just down the street from us.
The local media and the CoC loves to tout the unemployment rates, and how great everything is. This does not factor in underemployment and people that have simply given up finding a job. All things being equal, they Cost of Living here is comparable to Houston, with about half to 2/3 of the average wage.
Other than cheap labor there isn't a lot of reason for a " big company" to locate here. Its much easier to locate closer to Houston and its easy access to the port and the supply chain. See all of the new shops being built out in NW Harris and Waller county. We are also hurt by the lack of an INTERSTATE ! Perhaps IF and when that E-W interstate is built this will change ( 30 years !!) this may change .
The Raleigh-Durham area is a good template for how a college town area can attract companies and become quite prosperous.
Granted having a snotty private university there helps too...and Baylor sure aint Duke (ducks).
Granted having a snotty private university there helps too...and Baylor sure aint Duke (ducks).
And their airport is a gem to boot.
quote:I'd move back to CS from Houston in a second if all was equal. But the best I've been able to find is about 80% of my salary for the same work and 55% increase in housing costs for the same house compared to NW Houston suburbs. So I'll probably end up staying in Houston until retirement and then moving to CS and further hurt housing affordability by paying too much for a modest house.
The local media and the CoC loves to tout the unemployment rates, and how great everything is. This does not factor in underemployment and people that have simply given up finding a job. All things being equal, the Cost of Living here is comparable to Houston, with about half to 2/3 of the average wage.
quote:Can you go into more detail on Raleigh-Durham? If I remember correctly, that area not to long ago was around the size of BCS. What would it take for use to be more like them?
The Raleigh-Durham area is a good template for how a college town area can attract companies and become quite prosperous.
Granted having a snotty private university there helps too...and Baylor sure aint Duke (ducks).
They made a serious effort to attract young professionals, not retirees. Not sure how, but it worked and worked well. Sure they have their share of problems, but it's a good model of development that we seem oblivious to here.
I mean, I'm very happy for the wealthy geezers moving here who are perfectly content to have a few golf courses and a few crappy cafeteria style restaurants that start serving dinner at 4:30. That doesn't seem like a sound growth policy though.
I mean, I'm very happy for the wealthy geezers moving here who are perfectly content to have a few golf courses and a few crappy cafeteria style restaurants that start serving dinner at 4:30. That doesn't seem like a sound growth policy though.
quote:I believe that this area hoped that the Bio-Corridor would attract young professionals to the area. I would say that they are succeeding, but at a much slower pace than I would like. Where are all of the big company relocations? I think that the RELLIS Campus will also bring in more you professionals along with the expansion of the Health Science Center and TAMUs expansion (more teachers needed).
They made a serious effort to attract young professionals, not retirees. Not sure how, but it worked and worked well. Sure they have their share of problems, but it's a good model of development that we seem oblivious to here.
Off topic but I accidently clicked on my user name and it showed that I joined Texags 10 years ago today!
quote:quote:Can you go into more detail on Raleigh-Durham? If I remember correctly, that area not to long ago was around the size of BCS. What would it take for use to be more like them?
The Raleigh-Durham area is a good template for how a college town area can attract companies and become quite prosperous.
Granted having a snotty private university there helps too...and Baylor sure aint Duke (ducks).
BCS MSMA is about 250,000 population now. Raleigh Durham was half a million in 1970 and over 1,000,000 in 2000. Now it's over 2,000,000. So maybe 60 years ago it was the size of BCS now. Not really a good comparison.
quote:No, you've got your guesses all wrong. What I stated was I personally know people who have moved here and are doing well, unlike your hypotheticals.
So, techno, let me guess, you are making in the $40 - $60k range, and Mrs. Techno works as well? Dual income, no kids? If I am correct, yeah, you're doing great. As others have said, there is a lack of larger employers that have to compete at a national level, therefore the school and the other businesses here only have to compete on a regional level, and as long as the big player in the market keeps wages low, everybody else will too. If I'm a business owner, I am going to pay the prevailing wage, and make more profit from my schlups, it's human nature.
I have seen this town chew up and spit way too many good people since I moved back thirteen years ago. Often times, a person has a $40k job, and gets canned (Sharp?!?!?) Then it's impossible to find another. They burn through their $401k searching for a job that never comes, and they walk away from their house, and move in with mom and dad at age 35. Happened to a couple just down the street from us.
The local media and the CoC loves to tout the unemployment rates, and how great everything is. This does not factor in underemployment and people that have simply given up finding a job. All things being equal, the Cost of Living here is comparable to Houston, with about half to 2/3 of the average wage.
Despite the belly aching on here from all the negative Nancies, the numbers don't lie. Our economy is doing just fine.
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It's doing fine, yes. But there are some key areas it is lagging behind in that shouldn't be overlooked.
Slocum and Australo, knocking it out of the park and into the next solar system.
quote:
I have seen this town chew up and spit way too many good people since I moved back thirteen years ago. Often times, a person has a $40k job, and gets canned (Sharp?!?!?) Then it's impossible to find another. They burn through their $401k searching for a job that never comes, and they walk away from their house, and move in with mom and dad at age 35. Happened to a couple just down the street from us.
This times eleventy-billion. I have seen many, many young people with marketable degrees and skills (e.g. not English or gender studies) move to Austin, DFW, or Houston, or out of state for one very simple reason: JOBS. All found much better paying jobs elsewhere that (before Ol Lord Sunshine Pumper jumps in with "but its so much cheaper to live here!") were adjusted for cost of living in these places. So, they are living a high quality of life as well.
We are faced with an "hour glass economy": large numbers of old retirees at the top, large numbers of college kids at the bottom, and a very thin middle. Whatever else you say about that, its not the basis for a growing diverse healthy economy.
quote:I would slightly disagree with a bit of your last statement.quote:
I have seen this town chew up and spit way too many good people since I moved back thirteen years ago. Often times, a person has a $40k job, and gets canned (Sharp?!?!?) Then it's impossible to find another. They burn through their $401k searching for a job that never comes, and they walk away from their house, and move in with mom and dad at age 35. Happened to a couple just down the street from us.
This times eleventy-billion. I have seen many, many young people with marketable degrees and skills (e.g. not English or gender studies) move to Austin, DFW, or Houston, or out of state for one very simple reason: JOBS. All found much better paying jobs elsewhere that (before Ol Lord Sunshine Pumper jumps in with "but its so much cheaper to live here!") were adjusted for cost of living in these places. So, they are living a high quality of life as well.
We are faced with an "hour glass economy": large numbers of old retirees at the top, large numbers of college kids at the bottom, and a very thin middle. Whatever else you say about that, its not the basis for a growing diverse healthy economy.
BCS can be growing and healthy based on the looming retiree boom and the virtually recession proof college economy. I do agree that BCS does not have a strong high wage manufacturing or tech type sector and I'm not sure if it ever will. We have a horrible MIMBY attitude in CS that sniffles a lot of growth and we seem to have a comatose county government that is failing to understand the possible strength of urban development outside of a city limits made necessary due to an out of control city government. Harris County has BOOMED thanks to a great growth oriented aggressive county government. Of course if someone did build something in the county and it was thriving the city would just annex them and then regulate them out of business......so...
Wellborn was thriving???
quote:never said that. I was speculating that IF someone built something that did thrive..like a genuine manufacturing plant like we are seeing up and down 290 in Harris or Waller county....the city would annex em and regulate them right outa town.
Wellborn was thriving???
Hmmm...I wonder about that. Was that chemical plant that caught fire in Bryan a few years ago regulated? I honestly don't know...
quote:But but but those bad ole "plants" are dangerous and stuff...... gotta have more regs and stuff......
All chemical plants are regulated by OSHA etc... Trust me on this. I was an IT manager for a plant down in Houston.
Sounds like Austin.
Lets piss and moan about the very RARE industrial accidents that happen and then piss and moan about those very facilities relocating to { fill in the blank} and taking away our jerbs !!!
You want the tax base that solid manufacturing brings ?
Slocum & OAg doing a great job of educating people on this thread.
quote:
We are faced with an "hour glass economy": large numbers of old retirees at the top, large numbers of college kids at the bottom, and a very thin middle. Whatever else you say about that, its not the basis for a growing diverse healthy economy.
Pretty much this... It sucks. There is just very little room for movement, both from the outside > in, and within if you are already here. At the university there seems to be very little movement. People hold onto the jobs they have. If there is a move, its almost always out of town.