Southwest Economy, Fourth Quarter 2020

Fourth Quarter 2020
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• COVID-19 Fuels Sudden, Surging Demand for Suburban Housing
  Laila Assanie and Yichen Su
  Business interruption and social distancing mandates because of COVID-19 have disrupted what had been a period of sustained growth within city centers nationally and in Texas. The pandemic-related actions have helped propel a sudden, large shift from renting to homeownership and a concurrent movement to the suburbs and larger homes.
• Pandemic Unemployment Benefits Provided Much-Needed Fiscal Support
  Anil Kumar
  Recent analysis suggests that enhanced unemployment insurance benefits implemented in response to the COVID-19 pandemic have helped buttress spending among the unemployed and supported state and local economies. Their economic impact in Texas relative to the nation has been constrained by lower levels of participation in the unemployment aid programs and more modest per-capita payments from them.
• On the Record: A Conversation with Bill Gilmer
  Energy Woes to Weigh on Houston Recovery, Local Economist Says
  Bill Gilmer, director of the Institute for Regional Forecasting at the University of Houston’s Bauer College of Business, assesses the effect of the oil industry on the Houston economy and provides an outlook for 2021.
• Spotlight: Lower U.S. Crude Oil Production Decreases Output, Raises Price of Natural Gas
  Jesse Thompson and Camila Holm
  Natural gas futures plummeted to a historic low in June 2020 only to rebound by late October, mainly due to a decline in natural gas production from oil wells.
• Go Figure: Loan Delinquencies Start to Climb After Falling with Stimulus and Relief
  Design: Olu Eseyin; Content: Wenhua Di and Carlee Crocker
  COVID-19 stimulus and loan relief helped Texas borrowers avoid falling behind on loan payments in 2020's second quarter.
• President’s Perspective
  Robert S. Kaplan