• Skip to main content
  • Skip to secondary menu
  • Skip to footer

Press Media Release

press release distribution

  • Submit a Press Release
  • Market Wire
  • Make a Contribution
  • Contact
    • About

EO Houston 2020 Industry/Business Forecast: Home Building . Restaurant . Cloud Storage . HR

December 14, 2019 By Press Release Distribution Network Leave a Comment

Entrepreneur Organization’s (EO) 169 Houston members representing all industry segments share their 2020 business forecast. With more than 13,000 members worldwide and median sale of $5 Million, Houston’s members are responsible for roughly 4,749 jobs across diverse industries.

Here’s what they say:

Jim McVaugh, founder and CEO of McVaugh Custom Homes says, “The 2020 Houston housing market will be a tale of two demographics. Low interest rates, high demand, and limited supply in the lower-priced end of the market vs. growing inventory, reduced real-estate tax incentives, and a limited buyer pool for higher-priced properties. Depending on which side of the coin you’re on, it could be a buyers’ or sellers’ market. Much like in 2019, the majority of sales will continue to be among single-family homes priced between $150,000 and $500,000. There is roughly a 4-month supply of homes that fall within this range. As a rule, 5 to 6 months of inventory is considered to be a normal or a balanced market. Over 6 months of inventory is a buyer’s market. When you have less than 5 months it turns to a seller’s market. The smaller the available inventory, the tighter the market. For single-family listings over $500,000 there is a roughly 9-month supply of inventory. If you are looking to score a deal on a luxury property now is the time to make a move. Keep your eye on the luxury condo/hi-rise market. There is an abundance of million-dollar condo units on the market with more set to be delivered in 2020. A typical condo has a carry cost of 4-6% of fair value before financing costs (property tax/condo fees/insurance/maintenance/special assessments/etc). These costs add up fast when a property is worth hundreds of thousands or even millions of dollars. In addition, most developers are paying over 10% for financing on these projects. Unlike 2009 where there was a glut of upper-middle-class single family homes, this time there is a glut of super-luxury condos. Most Houstonians are unable afford the monthly HOA dues in these buildings, let alone the $30,000+ property taxes. Even if you gave them away, a middle-class family could not afford to hold it. In my opinion, there are not enough wealthy foreigners to save these developers.

Moreover, the vast majority of those buyers have already purchased. I am not calling for a collapse of the hi-rise market tomorrow; however, I do see a slow burn process. As inventories begin to grow, transaction volume will decline. As a result, developers will start to feel the pain. Eventually, some will cave as they ask themselves why I am paying 10% a year to hold onto something that is dropping in value. We are already starting to see 20%-30% price declines in places like New York, San Francisco, and Miami and I think Houston’s hi-rise market could be next. 2020 should be an interesting year with lots of opportunities for both buyers and sellers.

George Joseph, CEO of Common Bond Bistro, Bakery and Brasserie and Positive Recovery Centers says, “I believe the restaurant industry in Houston will remain strong however with increased competition coming from new well-funded out of state restaurants groups weaker brands are going out of business faster. Survival of the fittest. Increase restaurants increases pressure to have enough quality staff members.

Even though the country is in the middle of an Opioid Epidemic, Addiction treatment is under payment pressure from insurance companies and increased competition from new facilities fighting for patients. Out of network treatment facilities have started gaming insurance companies by charging astronomical prices for drug testing of people in treatment. Insurance companies didn’t catch on at first but now it has shed a bad light on the whole industry because of some bad actors. This has caused increased scrutiny and overall less coverage.”

Stefan Diasti CEO at Raven says, “I do not have any hard numbers or data, other than to let you know that we are seeing a significant shift in cloud storage adoption among small-to-mid sized businesses, as well as households, in a conscious effort to go paperless. I have 5-6 calls a day with customers who buy our Raven Scanners and am witnessing this trend through these conversations, and through the sales and market share we are gaining. Whether it’s our own Raven Cloud service, or third parties like Google Drive, Dropbox, Evernote, SharePoint or OneDrive, customers are finally feeling confident and trusting of storing their data in the cloud. As a result, they’re looking for tools and techniques to implement in their daily workflows to drive more data into the cloud where it can be stored and easily retrieved in a more organized and cost-effective manner.

Jeremy Jenson President of Encore Search Partners, LLC, says, “The talent pool is getting tighter, make sure you’re not dropping the ball.

With more and more companies fighting over a smaller talent pool of qualified candidates, it has become increasingly difficult for employers to spotlight and attract A Players. Going into 2020, the unemployment rate is 3.6%, the lowest since 1969. With all the best talent already employed, hiring professionals must look beyond candidates who are actively applying for jobs and use cold outreach to solicit gainfully employed candidates to come work at their companies. In addition, younger talent pools are valuing base salary less than years past and are putting more weight on training & professional development opportunities, community involvement initiatives, and more paid time off. In addition, top tier candidates are being pulled in many directions, and as your hiring processes drag on, you run the risk of them accepting another offer, or not feeling valued enough, resulting in disinterest. Since many of the most talented candidates can afford to be selective, that means candidates are vetting companies just as much as businesses are evaluating candidates. There are company review sites out there, like Glassdoor, and even job search sites like Indeed feature company reviews on their listings. Businesses must work to make involuntary turnover as smooth of a process as possible. Retention must be a priority. Engaging employees must be an integral part of business strategy to improve a company’s reputation and attract the best talent.

The Entrepreneur’s Organization (EO) is the only global business network exclusively for entrepreneurs. With 13,000+ members in 61 countries, EO is a member-led learning organization focused on engaging and empowering its member leaders to learn from each other, leading to greater business success and an enriched personal life.

Related

Filed Under: Press Release Tagged With: Accounting, Advertising/Publication, Apparel/Accessories, Architecture/Design, Automotive, Chemical, Computer/Consulting, Computer/Services, Computer/Software, Construction Services, Consulting Services, Contracting Services, Delivery Services, Distribution, Environmental, Financial Services, Food/Beverage, Franchise Services, Furniture, Health/Medical Services, Home Improvement, Horticulture, Hospitality Services, Human Resources/Personnel, Import/Export/Trade, Industrial Services, Insurance Services, Investment Services, Jewelry, Legal Services, Management Services, Manufacturing, Marketing/PR, Mechanical Services, Multimedia/Internet/On-line Services, Oil/Gas, Other, Promotion/Events, Real Estate, Rental/Leasing, Restaurant, retail, Signage, Sports/Fitness Services, Telecommunication Services, Travel/Transportation, Wholesale

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Footer

Recent Posts

  • SYSTECH is to Exhibit Fully Integrated Container and Fleet Tracking Solutions in Mexico
  • insightsoftware’s Embedded Analytics Solutions Named A Leader in 2022 Business Intelligence Market Study by Dresner Advisory Services
  • ESG Book Closes $35 million Series B to Build the World’s Leading ESG Data Platform
  • OpenAP Introduces new OpenAP Data Hub to Power the Future of Television Advertising with Snowflake
  • PUBLIC SERVICES INTERNATIONAL LAUNCHES INTERACTIVE DOCUMENTARY EXPERIENCE ON GLOBAL HEALTH WORKERS
  • Media Intelligence Digest
  • Coding Digest
  • Microsoft Names Cloudflare the Winner of its Security Software Innovator Of The Year Award
  • Globalstar Announces Successful Launch of Spare Satellite
  • Tipper Gore donates $1 Million to Razom for Ukraine

Media Partners

  • Opinion
  • Exclusive
  • Briefly
  • OPINT
  • VPNW
  • S3H
  • Domain Aftermarkets
  • App Coding
  • API Coding
  • Blockchaining

Media Partners

  • Technology Conferences
  • Event Sharing Network
  • Cybersecurity Events
  • Event Calendar
  • Calendarial
  • Domain Market Research
  • Pixel Effect

Copyright © 2019 PressMediaRelease.com

Technologies, Market Analysis & Market Research Reports

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT