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Originally Posted by Yackemflaber69
any news ?
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If it still happens it will be scaled way back. The Midland/Odessa economy has been slowing a lot in the past year. They aren't even the fastest growing metro in the US anymore.
Record Construction In Midland, Odessa Tops $1 Billion
Economy Watchers See Stability In Midland-Odessa Economies
Ingham said surges in commercial construction can typically come toward the end of a growth cycle and the high amount of construction in Midland and Odessa doesn’t necessarily mean the area economy isn’t slowing down.
A line graph of the monthly results, he said, would show a slight flattening of the index that began late last year. But, given the stresses rapid economic growth has put on Midland-Odessa’s housing, labor force, roads and other infrastructure, he said that may not be a bad thing.
The only negative in the October index was seen in hotel-motel tax collections, which were down 2 percent in October compared to the previous year. Ingham said that decline suggests enough new hotel room capacity has been added that it has taken pressure off demand for hotel rooms.
Pam Welch, executive director of the MDC, said she hoped that decline indicates that new residents are finding permanent living quarters — houses or apartments to live in — rather than hotels.
Jim Smitherman, chief executive officer at Security Bank, agreed that the Midland-Odessa economies appear to have stabilized, reducing pressure on housing and the labor market.
Read more: Record construction in Midland, Odessa tops $1Bn - MRT.com: Top Stories
http://www.mrt.com/top_stories/artic...#ixzz2mYWQXvL1
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