How to oil prices affect the housing market? It depends who you ask.
One economist – Freddie Mac’s Frank Nothaft – had quite a positive outlook.
“It has the same impact on consumer spending as a tax cut would,” he told The Wall Street Journal. “It should help to strengthen housing demand.”
Another – Credit Suisse analyst Michael Dahl – wasn’t so sure.
“Overall, we still see modestly better single-family housing growth in 2015 than in 2014, but the expected slowdown to housing construction activity in oil-focused local economies trumps other positive incremental tailwinds in the market,” he explained.
Image via flickr/The_Gut
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