The price of oil and its effect on the housing market

[Elena Jobson]

Do you think it is wise to invest in real estate markets where there is a high dependency on oil production? The housing market may be down, making homes more affordable, however unemployment may be going up due to layoffs (possibly creating tenancy issues and lack of job growth). What are your thoughts on investing in these markets? For example Houston, Pensacola, Baton Rouge etc.