Amarillo Permit Rise Prosperous Sign for New Year - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Amarillo Permit Rise Prosperous Sign for New Year

There's no record-breaking building construction but local economic forecasters still have something to smile about in 2008.

It's all about moderation in putting up new homes and businesses around town. One local analyst reports a six percent increase in the dollar value of all Amarillo building permits from 2006 to 2007.

That analyst says when it comes to growth, less can be more. "Single digit increases are sustainable and that's what we like to see. We don't want alot of speculation and then bubbles that tend to burst after a period of time," says Cliff Bickerstaff, an executive vice-president at Amarillo National Bank.

He predicts Amarillo could still completely escape the national housing slump in the new year. "You always worry about the lingering effect of national issues encroaching upon our economy here but we feel like everything so far should be just fine and we're very positive for '08."

A city official tells NewsChannel 10 the consistent increase in building permits means investors continue to feel good about the Amarillo area.

 

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