Dropping Oil Prices Hit Houston's Housing Market
Oil is currently hovering at around $29 a barrel, down 70 percent from a year and a half ago. The repercussions of the drop are being felt across the oil industry in the U.S., yet other industries are also being affected.
In Houston, tumbling oil prices are hurting what had previously been a very hot housing market. Single-family home prices are down nearly 8 percent since the summer.