AgentMarkets & Economy

How Houston dodged the housing bubble

Population explosion is good news for market that didn't overbuild

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If you're looking to make a long-term bet on the housing market, than the place to start is with one of America's largest cities: Houston. Houston currently ranks as the country's fourth-largest city behind New York, Los Angeles and Chicago, with a population of just over 2 million. However, just being a major city doesn't count for much these days. New York and Los Angeles are growing very slowly, and Chicago is losing population. The Houston metro-area population in 2010 numbered just under 6 million, but the most important statistic in this regard is that during the past decade Houston has added more people than any other of the nation's 366 metro areas, reported Rice University's Kinder Institute for Urban Research. According to the Rice University report, Houston grew by 1.2 million people from 2000 to 2010, nudging out Dallas-Fort Worth as the fast-growing U.S. metro. Don't expect that growth to slow down in the near future. "Houston will double in population...