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[–]BowtieDog0 points
6 points
6 points
(+6|-0)
ago
Lurker here, I rarely comment but fuck it.
I live in Houston, work is closely related to the oil and gas industry. Rising credit card debt is because so many people got laid off from the oil slump. Every 2 or 3 weeks a new round of firings in in the local Houston news. Apartment rents are dropping cause people can't afford them and we're all pretty sure Texas is going to go into a recession. The shale boom is pretty much decimated, and there are hardly any more fracking rigs running in Texas. A couple hundred versus several thousand a few years ago.
There isn't a lot of confidence anywhere in Texas really. Medical industry is doing ok but it's dwarfed by oil and gas. These guys are stupid and didn't do any research.
tl;dr I live in Texas, oil and gas is getting slaughtered, people use credit cards to help pay for shit when jobless. No, not optimistic.
That might be a cause in your region but another massive factor is that the cost of living in may large cities is going up but employers aren't provided raises to cover that increase.
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[–] BowtieDog 0 points 6 points 6 points (+6|-0) ago
Lurker here, I rarely comment but fuck it.
I live in Houston, work is closely related to the oil and gas industry. Rising credit card debt is because so many people got laid off from the oil slump. Every 2 or 3 weeks a new round of firings in in the local Houston news. Apartment rents are dropping cause people can't afford them and we're all pretty sure Texas is going to go into a recession. The shale boom is pretty much decimated, and there are hardly any more fracking rigs running in Texas. A couple hundred versus several thousand a few years ago.
There isn't a lot of confidence anywhere in Texas really. Medical industry is doing ok but it's dwarfed by oil and gas. These guys are stupid and didn't do any research.
tl;dr I live in Texas, oil and gas is getting slaughtered, people use credit cards to help pay for shit when jobless. No, not optimistic.
[–] Capt_Rye 0 points 4 points 4 points (+4|-0) ago
That might be a cause in your region but another massive factor is that the cost of living in may large cities is going up but employers aren't provided raises to cover that increase.