Pawn Shops Seeing Constant Flow of Customers Despite Good Economy

By Sylvia Gonzalez
NewsWest 9

ODESSA - Despite how well the economy is doing in the Basin, pawn shops have seen a steady flow of customers walk thru their doors.

"I am making a lot of more money now here in the Permian Basin since everything has been booming," Allen Woods, who shops at pawn shops, said.

Even with the booming economy in the Basin, pawn shops have not seen a decline in their business, as a matter of fact they have kept busy.

Rhonda O'Neal, owner of Big Tex Pawn in Odessa says, she knows one reason why she has seen a constant flow of customers in her store.

"The higher rents make it a little bit tighter, you have to squeeze to get to the end of the month. It's a stretch, so from time to time things do come up where you need a little bit of a help," O'Neal said.

Not everyone has reaped the benefits of the good economy, there are still several people who have a hard time making ends meet.

"There are always people who are living on a fixed income or emergencies that come up, so we like to say that we can fill that need when the need arises," O'Neal said.

The skyrocketing prices for homes and rent came as a shock to some but not everyone was caught by surprise. In fact, some were prepared for it.

The Permian Basin has seen booms and busts, O'Neil says people have become savvy on how they spend their money.

"Hopefully that we are just in a position now where a lot of people are looking back and saying we're not just gonna spend everything we make, lets hold on to it," O'Neal said.

Shelby Franco tells NewsWest 9, as a diesel mechanic, he makes decent money but previous downfalls of the oil has taught him a lesson or two and that's why he likes to be ahead of the game.

"Cause if it ever drops down again, its just staying in a budget, really trying to save," Franco said.

Even if you're not looking to sell of your possessions, most still head to the pawn shops in search of a good bargain.

"If things are booming, you still want a good deal," O'Neal said.