Comerica: Low Oil Prices Create an Economic ‘Sea Change’ and 11 Percent Drop in Housing Starts to Houston (Realty News Report)

Significantly lower oil prices represent “a sea change” in the Houston economy and will bring about a weaker commercial real estate market and an 11 percent decline in housing starts in 2015, according to economic commentary by Comerica Bank.

After creating about 120,000 jobs in 2014, Comerica projects that Houston will add about 82,000 new jobs in 2015.

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