Upscale apartments stealing thunder from housing marketUpscale apartments stealing thunder from housing markethttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=135532016-06-16T05:00:00Z2016-06-16T20:20:00Z

​​​​​​​​HOUSTON - In recent years, Houston’s luxury apartments have become highly competitive with single-family homes. As home prices in the Bayou City have crept up, so, too, have apartment rents. 

Houston homebuilders face an additional challenge now: Baby boomers who are giving up their suburban lifestyle in favor of a more urban, carefree and hip lifestyle closer to downtown.
These higher rents have allowed apartment developers to offer features that rival single-family homes.

Many Class A apartments and even some Class B apartments in the Bayou City now offer: open floor plans with large master bedrooms, bathrooms and walk-in closets; dog parks, washes and running areas; and resort-style pools with cabanas

“We’re now facing a competitive challenge,” Jon Cruse, vice president at Meyers Research LLC’s Dallas office, said. “How do we compel people to make that switch from renting to buying?”
Houston Business Journal
Houston-The Woodlands-Sugar Land
http://www.bizjournals.com/houston/morning_call/2016/06/forget-the-oil-slump-here-s-the-real-threat-facing.htmlRead more at {Source}

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