Dr. Mark Dotzour, chief economist at TX A&M Real Estate Center in College Station. Real estate construction is growing again finally, more people are at work and 5 years of pent-up demand for housing & commercial properties + Americans now have credit capacity again. For years, people have been talking about how the housing market is aheadwind against economic recovery. Now turning into a tailwind. Dotzour said some of the starts will still be constrained by labor shortage, mortgage loan underwriting and a further increase in construction costs.
Monthly Archives: February 2013
SUPREME COURT WADING INTO TEXAS WATER ISSUES
The U. S. Supreme Court is about to dive into a water rights dispute that could affect 1.7 million North Texas residents, according to the Wall Street Journal. The dispute is between Texas’ Tarrant Regional Water District & Oklahoma. Texas wants to capture water in Oklahoma that flows into the Red River, the border between the 2 states. So far, lower courts have ruled for Oklahoma. In addition, Texas has asked the Supreme Court to consider a separate lawsuit alleging that New Mexico isn’t giving Texas its allotted share of water from the Rio Grande. No court has ruled on this. Texas is one of the fastest-growing states and will need 8.3 million acre-feet of water by 2060 where population is expected to surpass 46 million, up from 25 million now.
TX & TYLER HOTSPOT FOR ECONOMIC GROWTH ……..
Tyler, Longview, Midland and Texarkana were on the list of small metros on RCLCO list out of Santa Monica, CA. for economic growth. Austin & area, Dallas & FW, Houston and area are the big cities. Also 1/2 of the cities on the list of metros where employment is back to peak levels are in TX: DFW, Houston, San Antonio, Austin, El Paso & Corpus Christi. The managing director of RCLCO said diversified employment bases, including energy & technology sectors, are benefiting the TX economy as are the low cost of doing business, warm climate and proximity to trade routes.