HOUSTON, Texas, Jan. 18, 2020 (SEND2PRESS NEWSWIRE) – Here is the 2021 business forecast for the Mortgage, Restaurant, Residential, Oil & Gas, Tax and Healthcare industries in Houston from the executives and business partners at EO Houston .
Robert Wagnon, founder and CEO of Republic State Mortgage, says the mortgage emergence for the best year ever is on pace. Record-low interest rates and strong demand for home ownership fuel lenders during the COVID-19 pandemic. In the first nine months of the year, lenders issued $ 2.8 trillion in mortgages, according to industry research firm Inside Mortgage Finance. The boom continued into the final quarter of 2020, prompting analysts to predict that origination volume will exceed the previous record of $ 3.7 trillion in 2003.
Adam Brackman, owner of Axelrad, says the restaurant and bar industry has been hard hit by COVID. Bars and restaurants usually fail because the operator had a bad concept or a bad location and they are now struggling to survive through no fault of their own. It’s hard to see how that happens. The operators were forced to find their linchpin and adapt to the new environment with creative solutions such as mobile trucks or deliveries. The PPP loans were a nice loophole for a short time, but that money has long been gone and we need better solutions from the government if we are forced to shut down or be restricted in their service in 2021. Please support local businesses as much as possible through take-out or dine-in. While we see the formwork of many restaurants, we also see new restaurants opening. I believe that as the summer vaccine becomes more widespread, life will go back to normal. A big open question is whether people’s eating habits have changed at all. Will more people cook at home after buying all of the kitchen appliances? Will people be using more delivery apps and are we seeing an increase in ghost kitchens that only serve take-away meals? At Axelrad we’ve had to shut down for 4 months but are now open under secure logs and making enough sales to cover costs, but we are eagerly awaiting a return to normal.
– residential real estate
Chris Mastrangelo, owner of Habitation Realty, sees continued strength in the Houston real estate market at all levels despite the pandemic. “This year we’re seeing a combination of an all-time low in interest rates and very low inventory.” According to the latest HAR data, 7,990 single-family homes were sold in November compared with 6,359 last year. This corresponds to an increase of 25.6 percent and marks the sixth month in a row with positive sales.
Properties priced at $ 750,000 and above were up 88.4 percent compared to November 2019. It was followed by the $ 500,000 to $ 750,000 real estate segment, which grew 72.2 percent year over year. Homes between $ 250,000 and $ 500,000, which make up the largest share of sales in the market, rose 50.3 percent.
The average price for single-family homes rose 15.0 percent to a historic high of $ 341,765, while the average price rose 12.0 percent to $ 270,000 – the second-highest level ever. Sales since the beginning of the year are currently 9.0 percent above the record rate of 2019.
The Houston rental market was poor in November. Single-family home leases fell 11.1 percent year-on-year, while row house and condominium leases fell 4.0 percent. The median rent for single family homes decreased 5.5 percent to $ 1,882, while the median rent for townhouses and condos rose 11.5 percent to $ 1,674.
Chris has observed that Houston continues to blow away other US markets by comparison and remains cautiously optimistic.
– Oil and gas
Richard Hamilton III, Founder and CEO of Principle Energy, says the oil companies’ motto used to be “Drill, Baby Drill”. Companies and executive teams have been rewarded for increasing overall production rather than making a profit. Those days are over. U.S. oil production has decreased from 13,000 barrels per day in 2019 to 11,000 in 2020. Regardless of whether oil prices rise in 2021, drilling and production volumes are unlikely to be expected in 2019. The reason is that much of the capital for the operators has dried up and they must now rely on free cash flow to fund the activities. This should lead to a leaner and more efficient oil and gas industry.
Auditor: John Toth, tax shareholder of Weinstein Spira, says: “With the 2020 election season we can expect a 2021 tax reform to be proposed. What can change The income tax for the upper bracket can increase to around 39.6%. President-elect Biden has also proposed increasing the capital gain rate for those with incomes over $ 1 million. He also suggested raising the corporate tax rate to 28%. Changes to gift and estate tax law and social security tax (FICA) may be made in the coming year. Time will tell us what legislation is on the rise for 2021. “John also pointed out that it is important to discuss your personal tax strategy with your accountant before making any changes to your plan.
Dr. James McDeavitt, senior vice president and dean of clinical affairs at Baylor College of Medicine, apparently says the role of telemedicine will be on the list of any lasting change following the pandemic. I believe that a specific short-term effect will be a change in the remuneration and performance of the medical staff. Recall two major pre-pandemic health system discussion topics: the alarming rate of surge in burnout among doctors and the growing interest of millennials in reconciling work and family life. If you haven’t lost your job, got sick, or cared for patients in a hospital during the pandemic, then paradoxically, your life was probably better in some ways during the pandemic. To the extent that telemedicine allowed doctors to do at least part of their practice from home, it gave them time. With no commuting and the ability to interact with family during downtime, some doctors have been able to achieve better work-life balance and higher job satisfaction. I anticipate that the ability of health systems to provide doctors with an element of regular “work from home” will become an important tool in recruiting and retaining staff. In some cases, doctors accept less compensation for being able to work from home a day or two a week.
In medical schools, the demand for combined MD-MPH programs will increase.
A significant and visible number of Americans will continue to wear cloth masks in airports, airplanes, and other crowded, enclosed environments in the years to come.
The new hospital architecture will be strongly, but temporarily, influenced by our pandemic experience. Developers will advance construction concepts in order to improve the surge capacity (e.g. universal rooms, rooms with 100% negative / positive pressure, ward rooms that are designed to meet the extreme surge requirements). Designers will encourage public spaces that limit the potential spread of pathogens (one-way traffic, separated waiting rooms, specialized airflow). Like the “wired” hospitals two decades ago, some ultra-modern hospitals are being built with a premium. With our pandemic memory facing – as it will be – most will judge the additional cost to be unnecessary. Some reasonable design elements will survive.
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News source: EO Houston