New projects not likely to be announced anytime soon, experts predict (Houston Chronicle)

Photo Courtesy of Houston Chronicle

Photo Courtesy of Houston Chronicle

By Erin Mulvaney

New construction projects will not likely be announced in the next  year at least , as money has dried up for development, leaving many sectors in wait-and-see mode in the wake of a plunge in oil prices, industry leaders said at multiple events Thursday.

“If you look at real estate with no peripheral vision, the real estate market looks as good as it’s ever been,” said Mark Taylor, senior managing director at brokerage firm CBRE, which held a quarterly luncheon. Yet, he said a drop in oil prices has led to questions throughout the Houston region.

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