Squeezing the Shale in Midland’s boom

MIDLAND – In April, the unemployment rate, locally, was the lowest in Texas at 3.5 percent. “We’re trying to stay one step ahead of the growth, but the economy is moving at a pace where it’s hard to stay one step ahead,” said Courtney Sharp, Midland’s city manager.

“We’re at least 500 housing units short of where we need to be,” Sharp said.

Lubbock-based Betenbough Homes is looking for more acreage while 123 buyers are already on a waiting list. Midland Multiple Listing Service, operated by the Permian Basin Board of Realtors, showed 334 houses — 2.3 months’ supply — in the inventory at the end of March.

The hefty sums the city has received in sales tax revenues will help increase Midland’s planning and zoning, and building codes functions, along with providing some “one-time” improvements.