However, it appears that the oil industry is the main driver of the economy in Houston.

Covid-19 has put governments, societies, and economies through the wringer and the effects are reverberating through the real estate market.Anywhere you look, reports of surging housing prices, rampant speculation, and historically low inventories pepper even mainstream news cycles.

I just don't believe in this phony economy/stock market (when small businesses are being put out of business in droves?).

But of course the real question is when 😂It looks like interest rates will be rising, which has tended to cause asset prices to fall in the past (for real estate, higher monthly payments meaning people can't afford to pay as much for property).However we have other things going on in the economy (supply chain difficulties leading to inflation and - worse - the expectation of inflation which can then become a self-fulfilling prophecy) which could make you think prices are only going to go up.I'm still trying to find my crystal ball; I know I packed it away in a box before my last move, but I never did manage to find it.

I suppose what makes me nervous is knowing manufactured homes are known to tank terribly when the economy changes and I’m debating should I sell at an all time high now with the hot market in Vegas?

There is economy of scale if you do all of the units at one time.

I made my first investment decades ago and I have bought real estate in every type of economy you can imagine starting with the big decline in 1989.  

Yes, you may have to make them later if the market cools, but then you can probably get them done relatively cheaper (cooling economy will drive down construction labor) and push wear & tear issues forward.

I want to be sensitive to their situation as the economy is bad and we’re all struggling but we run a business. 

Markets with growing populations, growing jobs, good incomes and modern/diverse economies will have the most potential for appreciation and also rental increases.