The New CS Board

[jumanji0881]

Texas is in danger of a recession : http://money.cnn.com/2014/12/18/news/economy/texas-oil-recession/index.html?iid=Lead

Comment: There is a silver lining - Texas RE will get cheaper and as companies go bankrupt, you can buy assets cheaply.

Excerpt:
While cheap gas is likely to be a net positive for the U.S., Texas is poised to take a hit because of the pivotal role that oil plays in the state's economy.

"We think Texas will, at least, have a rough 2015 ahead, and is at risk of slipping into a regional recession," Michael Feroli, JPMorgan Chase chief U.S. economist, predicted Thursday.

Texas has become a dominant oil producer, boosting its share of U.S. crude production from 25% to more than 40% over the past five years.

That heavy exposure to crude should go from a big positive to a big negative. Crude oil traded above $100 in June. Now the price is about half that at $54.