Oil and gas producing states rank high in riskiest states for consumers, lenders
By Ben Lane | HousingWire
The plummeting price of oil has some states at a much higher risk of a housing crisis, a new report from Arch MI found.
According to the private mortgage insurer’s latest Housing & Mortgage Market Review, the average likelihood of home price declines across the country over the next two years remains low, at 6%, but some states are at a much higher risk of seeing price declines.
Arch MI’s report found that the eight states in the “Energy Patch,” which are states that produce coal, oil or gas, are the most at risk of seeing a price decline in the next two years.