LOCAL ECONOMY SLOWING DOWN:
May 19, 2015
As I have been predicting since last fall before the 2014 Bond Election-- when oil prices began to fall, just about any idiot could have seen that things were going to go downhill in the Katy area. My purpose in calling that fact to everyone's attention had to do with hoping voters (the few that we have) would realize that we didn't need all the buildings that Alton Frailey wanted to have!
Our economy is based on the oil industry. Katy homes sell because they are cheap for what one gets and are close to work sites. It isn't complicated.
To suggest that people come here because of the school district is based on situations that existed in the 1980's, but which are no longer relevant. That Katy ISD is a great school district is a well-thought-out-myth perpetuated by those who stand to gain financially if many people believe it!
Last Sunday, the Chronicle's Chris Tomlinson affirmed my thoughts:
Houston's economy slowing faster than expected
By Chris Tomlinson May 14, 2015 Updated: May 15, 2015 11:39pm
OPINION
Higher oil prices may have some in the energy industry rejoicing, but there is growing evidence that the local and national economies are faring a little worse in this downturn than expected.
When oil began plummeting last fall, analysts expected the lower gasoline prices to boost consumer spending, while local observers bragged about how the regional economy was no longer dependent on oil and gas. But consumers are not spending their extra cash, and Houston's economy is not as shockproof as many people touted.
The U.S. economy also may have slipped into recession in the first quarter, and that means it won't offset Houston's slowdown as much as anticipated.
All of this means Houston may add only 13,000 new jobs next year after adding more than 100,000 the previous two, according to Bill Gilmer, the University of Houston economist who provides a regional economic forecast twice a year.
"The Houston business cycle is turning, it always turns, from bad to good and back again," Gilmer said last week. "We are looking at a moderate downturn in Houston."
Read the rest of the article here: http://www.houstonchronicle.com/business/columnists/tomlinson/article/Houston-s-economy-slowing-faster-than-expected-6264167.php
Also read Aaron Layman's comment and go to the link he provided: http://aaronlayman.com/2015/05/katy-texas-west-houston-real-estate-market-april-2015/
Mr. Layman also offered up a great quote from Upton Sinclair: "It's difficult to get a man to understand something, when his salary depends upon his not understanding it."