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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Jul 03, 2005
Page
1
Odessa area real estate agents describe prices rising as the market stays hot with strong demand. Board of Realtors officials say conditions are unlikely to slow soon and sellers enjoy a favorable market.
Local chamber reports 17 million spent on economic development has produced 414 million in taxable property for the city. Officials, editors, and experts analyze indicators of a boom driven by oilfield demand, welding shops, and restaurant activity with Chris Blanchard noting a 70 percent rise in business at his shop near 4411 W. County Road.
Odessa sees 18 new housing subdivisions under development by July end as existing homes remain scarce. City official Richard Morton compares the expansion to the late 1970s and early 1980s before a bust, noting one other similar period. Developer Wyly Brown cites existing-home shortages driving the surge, while a nationwide real estate boom raises property tax concerns.
Providence report profiles Holly Charette a 21 year old Rhode Island Marine killed June 23 in Fallujah after her convoy was ambushed. Her death marked the largest toll on American female troops in Iraq amid a war with no clear front lines despite policy barring women from direct combat.
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