In the last couple of weeks a report by Fitch in New York, an analytic ratings firm, predicted that the Texas economy will slow, even possibly collapse, due to oil dropping from $106 per barrel to around $50 per barrel because of less demand and increased production. In a word from other economists – the Fitch analysis is hogwash, and its prediction has more to do with politics than reality. Yes, there will be a small downturn in West and South Texas with layoffs from the drilling companies. But it will have little to no effect in the major cities across Texas, and especially Dallas. In the 1986 the collapse of oil prices sent Texas into a deep recession. But today oil is only 11 percent of the Texas economy. Texas has grown considerably and greatly diversified its work force. And cities such as Dallas have boomed in technology, health and finance. Most economists believe that there is little that can stop the North Texas boom.
- Excerpts from Dallas Morning News, December 26, 2014
Author:HGR LEADS Phone: 214-239-1889 Dated: January 29th 2015 Views: 1,670 About HGR: ...
We understand that for many people, buying or selling a home is probably the largest investment decision that they will make in their lifetime. Halo Group Realty LLC thus became active in selling Real Estate in 2008 and was setup to make this process a simple and painless transaction. Your dedicated agent will guide you every step of the way to make purchasing or selling your home enjoyable and exciting… as it should be!
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