The continued explosive growth of the oil and gas industry in Southern New Mexico is pushing the limits of some communities as they struggle to keep up with the needs of citizens. Workforce housing has long been an issue in oil boom towns, but now even tertiary services like police, teachers, and firefighters are struggling to find housing.
“Hobbs needs to build an additional 2,000 homes and 2,330 apartment units by 2020 to meet the current demand for housing,” said Josh Grassham, Vice President of commercial banking at Lea County State Bank in Hobbs. Read more HERE.