Will the shrinking Midland-Odessa job market mean panic for real estate professionals?

Will the shrinking Midland-Odessa job market mean panic for real estate professionals?

The shrinking job market in Midland-Odessa has some people in panic mode, with rumors of multifamily developments poised for certain collapse should renters renege on their leases and abandon their apartments. Should we worry about Midland Real Estate?

Not so fast, says this story by WFAA. Sure, part of the oil and gas industry’s workforce is slipping, but oil-and-gas-related lawsuits could bring an entirely different tenant to town. Home builders are still building, but at a gradual pace, that’s for sure. The big question remains, though: Will there be a burst bubble in the near future?

Read what economist Jim Gaines at the Real Estate Center at Texas A&M University thinks on the blog.

Midland's real estate market is projected to grow quite a bit over the next few years.

Midland’s real estate market is projected to grow quite a bit over the next few years.

The dip in oil prices doesn’t appear to affect the housing market, at least according to the lastest report on Midland and Odessa from Local Market monitor. Both West Texas cities will see year-over-year growth, and the economic analysts studying the investment situation in the area consider these two markets as “low risk”

Read a more detailed report on MidlandDirt.com.