The massive drop in oil prices during the past two months has caused Axiometrics to revise its forecasts for employment and apartment fundamentals, but it’s not as gloomy as some might believe.
Now, employers in the Houston-Baytown-Sugar Land Metropolitan Statistical Area (MSA) are expected to add 73,000 jobs in 2015, a decrease of 20,000 jobs from the 93,000 originally forecast and almost 48,000 fewer than were created in 2014.
The rate of job gains is expected to soften further to 54,000 jobs in 2016, before rising again in 2017 and 2018.
Read more...Houston Changes
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