Lower gas prices are great, but I am watching lots of my friends lose their jobs. Many, many people were laid off on Friday, as Schlumberger and Baker Hughes cut 16,000 jobs. This includes some of my friends who are long term Kingwood residents. Who thinks we might be on the verge of another recession, especially with world economies slowing down? I just paid a lot of money for my new house in Kingwood, and I am worried that I bought at the top of the market... 

I hate to say it, but yes, you probably bought high. How long have you lived here? I'm new to Kingwood too! 

we're not heading into a recession.

at least. not yet.

we're probably going to add between 45 and 60 thousand jobs in Houston this year. A far cry below the 110-120k jobs/yr of the last 4 years, but still positive.

the supply of houses in the market as a whole is still very tight, and it will likely stay that way through the next 12-18 months. especially with congress lowering credit standards again (smh) 

I really want to feel sorry for oil workers. I do sympathize a bit.

But I'm seen many of my friends that had the quit their jobs when they couldn't afford the $4/gal commutes to work any longer. 

Houston has a strong job market in areas other than oil and gas.

While some will face challenges others will transition to new careers.

Personally I am enjoying the savings and putting
them in to savings for a rainy day 

My daughter was wanting to buy a house, but I told her I thought she would be making a mistake buying now. She lives down in the Heights area and when houses are selling for above asking price you can't help thinking they are selling for a lot more than they are worth. 

I don't feel bad. They didn't feel bad when they were flying first class and getting their kid's school tuition paid while the lower middle class was struggling to fill their car up. 

I don't feel bad. They didn't feel bad when they were flying first class and getting their kid's school tuition paid while the lower middle class was struggling to fill their car up.

Pretty naive if you think the majority of people being laid off fall into that category. I hope you feel the same way when the trickle down effect impacts those in non oil related industry. It is already happening. 

I don't feel bad. They didn't feel bad when they were flying first class and getting their kid's school tuition paid while the lower middle class was struggling to fill their car up.
You don't have a clue.