The J. Beard Company’s Research team recently attended a presentation by Patrick Jankowski, SVP of Research for the Greater Houston Partnership. The bulk of the presentation reflected on Hurricane Harvey’s impact of the Houston, which devastated our community a year ago this week.
Key drivers of the Houston economy were the focal point of the presentation, including such metrics as employment, gas prices, home sales, car sales, building permits, multi-family occupancy rates hotel occupancy rates. Slide after slide Mr. Jankowski walked us through trends leading up to Harvey, the immediate effect of Harvey, and finally the rebound after Harvey.
There was one clear take-way from the presentation: Houston rebounded relatively quickly from an economic standpoint. Each of those economic drivers had dramatic dips in production for approximately three months before starting another upward climb. Some drivers climbed to pre-Harvey numbers faster than others, but they all prove how resilient Houston’s economy is to be knocked down for such a small time period.