Dallas apartments prove that the city is on the right track
By Knate
Sunday, June 10, 2007
Dallas’s economy is no longer completely tied to the oil industry. The glut of oil through the late 1980s and 1990s taught the city that it needed to broaden it’s horizons, or suffer a similar economic downturn when the oil industry next went though a down market. The decision was made by the Dallas government to set it’s sites on luring in high-tech, financial, and service corporations. The result was a gradual rehabilitation of Dallas that received a huge shot in the arm when the oil industry started recording record profits.
Today, Dallas is in great shape. Perhaps the best way to demonstrate that is to look to the real estate and apartment rental scene. As jobs began to return to Dallas, so did the workers. The result is a downtown Dallas renaissance that has seen the construction of hundreds of luxury apartments and the rehab of many historic lofts. The Dallas real estate market is going strong, home and condo prices are rising, and apartment rentals are also on the rise. All point to Dallas’s success in stabilizing an economy that used to ebb and flow with oil.