Americas Energy ViewPoint: Low Oil PricesAmericas Energy ViewPoint: Low Oil Priceshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=116232016-01-04T06:00:00Z2016-01-04T17:00:00Z

​​DALLAS - The latest real estate market report card on the plunge in oil prices gives Dallas a gold star.

“Houston, Pittsburgh and Calgary are feeling the pain in their office markets, but Denver and Dallas are doing just fine,” said Jeffrey Havsy, an economist with commercial property firm CBRE.

He said North Texas is “seeing demand for office space from a host of non-energy industries, which is mitigating the negative impact the slowing energy industry is having.”

While hurting Houston, the fall in oil prices from over $100 a barrel in 2014 to less than $40 today is benefiting consumers, the CBRE report says.

Lower gasoline prices saved the average U.S. household $700 this year.

That’s almost as much as the economic incentives Americans received during the recession.

“While the stimulus rebates were a one-time even, the dividend from low oil prices will likely continue for some time,” Havsy said.

Despite the slump, Houston is still anticipating positive overall job growth in 2016.

Low oil prices will also help the economy more than low interest rates help homeowners.

Dallas Morning News
Dallas-Fort Worth-Arlington

​Click here to see the full report by CBRE.

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