CLEAR LAKE (Houston Chronicle)
– With the end of the space shuttle program, NASA will have thousands of
layoffs affecting the housing market in Clear Lake and the greater Houston
area, according to yesterday’s Houston Chronicle.
The paper reported that homes in Clear Lake have been staying on the market
longer and more are going up for sale.
But with many former NASA employees unsure of where or how quickly
they’ll find jobs, the impact on housing might be more psychological than
economic.
“People are very nervous about it,” said Dr. Jim Gaines, research
economist with the Real Estate Center at Texas A&M University. “The
fact that there’s tight credit makes it more difficult to sell homes. People
are moving to Houston, but it’s not as active a market.”
