Millennials looking for “The Best Place in the City” for their new apartment can turn to Marcus Hiles. Along with his company Western Rim Property Services, Hiles specializes in affordable luxury complexes located across the state of Texas. Always offering a high quality of life and signature amenities, Hiles has made it easier than ever to enjoy the apartment lifestyle. Eco-friendly settings and upmarket features allow renters to look beyond the standard for long-term unit housing.
Within two months of the Organization of the Petroleum Exporting Countries’ (OPEC) historic agreement to stabilize the market by cutting crude oil production for the first time in the past eight years, Marcus Hiles notes that per-barrel cost has nearly doubled after slipping to a low of $26 in February of the previous year. In Greater Houston, the center of U.S. oil production, the deal has boosted the industry’s recovery from a two-year downturn and spurred regional marekts. Texas real estate expert and CEO of Western Rim Property Services Marcus Hiles, the state’s largest affordable upmarket property developer, expects that as Houston’s energy companies continue to hire and grow throughout 2017, areas throughout the metro region will see higher employment rates and corresponding wage increases.
The day following OPEC’s agreement to cut production by 1.2 million barrels per day, U.S. crude saw its biggest daily price spike in more than seven years, climbing by nearly ten percent to $49.44. “This means 2017 will be a better year for oil and gas activity,” said David Pursell, research manager at energy investment banking firm Tudor, Pickering, Holt & Co. to the Houston Chronicle. “It’s really good for Houston and the white-collar jobs.” Above the $50-plus range, the New York Times reported that prices could spike through the winter months, further accelerating economic recovery. Along these lines, in December the monthly Purchasing Managers Index, a survey of supply chain leaders to measure commercial activity, gave Houston its third positive report in a row, citing near-term expansion in employment, sales and production among important industries, notes Marcus Hiles. “We’re seeing fairly significant strengthening in most of the underlying sectors, particularly oil and gas,” Ross Harvin, report compiler for the Institute for Supply Management, told Houston Public Media.