DALLAS, TX (TIP): The days of$100 oil are gone — maybe forever –and that means oil companies are cutting jobs — thousands of them.
That’s scary for a Texan real estate industry that had been cruising along in recent years thanks in part to the state’s booming energy business. Credit Suisse believes home construction could tumble 20% in Texas this year.
“Employment growth is one of the most important drivers for housing, with job and income growth driving both local demand and increased population from relocations,” Credit Suisse analyst Michael Dahl wrote in a research report this week.
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