A Housing Insights report by Fannie Mae has detailed predictions of a five-year slump of housing appreciation in oil-dependent states such as Alaska and Wyoming due to decreasing oil prices. The report, titled “Oil Prices Will Decline the Rest Of This Year,” predicts that prices will fall from $110 per barrel this year to $50 or less next year.
A Housing Insights report by Fannie Mae has detailed predictions of a five-year slump of housing appreciation in oil-dependent states such as Alaska and Wyoming due to decreasing oil prices. However, economists also maintained that unlike a 1980s oil price drop which led to falling house prices nationwide, the consequences of this price decrease are expected to be much less severe.