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Will Oil Prices Cause a Suburban Boom?
2015 is the year of the goat...and the suburbs, say Deal Sikes principals Mark Sikes and Matt Deal. Lower oil prices will likely weaken the Inner Loop markets, but $2 gas makes long commutes from the suburbs less daunting. That'll boost home sales in those markets, which will lead to healthy single-family and retail development, Matt says. (Although the energy sector is laying off employees, Houston is still adding jobs and population, and homebuilders and retailers are still trying to catch up with the previous years' surge, says Mark.) Multifamily and office activity should slow across the metro, though, Matt adds.
