Everyone is saying that the real estate boom happened due to the oil prices, but has anyone actually looked at that closer? The future projects are there and lots of them, but are we expecting an influx of new people moving here to do them (does everyone new here work in O&G industry?) or is the current workforce it? How many more people are working in Oil now than say 3 years ago, prior to the craziness?
Here are the Oil prices from the past 20 years. I bought my first house in 1996, which was a sad real estate time and I was a subject to a lot of cryticizm for buying in a "bad" time. But as were all of 90's, things didn't start to pick up until 1998 or so which ironically had 2 decade lowest oil prices. Oil prices for most part of the 90s were solid though....
Damn formatting.....here's the link
http://www.inflationdata.com/inflati...ices_Table.asp