This year has brought its share of hard knocks, to be sure. Mortgage interest rates have risen, eliminating the ability of some moderate-income people to buy a home. Local new home sales are running about 10 percent below the pace of 1998.
Some people worry because the Houston apartment market appears to be overbuilt.
Stock prices for most publicly traded real estate companies are down sharply and those companies have curtailed their investment and construction activity. And in 1999, investors have avoided buying Houston office buildings like kids avoiding a plateful of spinach. But lest we think the Houston real estate market is really grim, there are some bright spots. Thanksgiving is a good time to take note of the strength of the industry. Este project in the Uptown area.