If there is any city that is the headquarters of the American oil industry, that city is Houston. Home to 31% of all U.S. jobs in the oil and gas industry, nearly 40,000 Houston residents rely on the oil and gas industry for their income. The current oil glut is causing serious problems in Houston jobs and real estate. Continue reading
In case you see a rare “For Sale” sign come down, and new neighbors move in, it likely won’t be an oil baron in the making. Gas prices are at unfamiliar (at least in more recent times), historically low levels these days. Everywhere you look, gas stations are dropping their prices. While lower fuel costs are a welcome respite to consumer wallets, the situation lends itself to a curious dilemma for an otherwise strong real estate market. Continue reading