High Net Worth Investors Bullish About Houston Economy
by: Ed Mayberry, April 23, 2013 5:04:00 am
Matt Kabot, managing director of Morgan Stanley's Houston office, says the national survey shows investor confidence in the housing market, as well.
"Fifty percent of Houston area high net worth investors sensed improvement in our local housing market. It's interesting that at least a third of investors believe that real estate will be the best-performing asset class here in the next three years or so."
Kabot was asked how energy figures into this picture.
"Well, on average, investments in the energy segment make up about 20 percent of Houston area high net worth investors' portfolios. That is actually the largest single component of investors' portfolios."
Ninety percent of those investors polled believe the state economy will be the same or better by the end of the year. Eighty percent say now is the time to buy a home, and 61 percent say it's a good time to buy rental property.