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Tag Archives: Housing

Williston approves ordinance to eliminate crew camps

The city commission's decision to end Williston crew camps will likely face a legal battle. (Image: Tim Whitlow via Flickr)

WILLISTON, N.D. (AP) — Williston’s City Commission has given final approval to an ordinance that will eliminate oil field crew camps within city limits this summer, although the matter still lingers in the courts. On Tuesday, commissioners unanimously approved a Sept. 1 deadline for crew camps to shut down, with companies given about another two years to clean up and ...

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North Dakota housing fund threatened with drilling downturn

BISMARCK, N.D. (AP) — A state income tax credit that helped subsidize construction of thousands of living spaces largely in western North Dakota’s oil patch has outlived lived its usefulness with the downturn in drilling and a prolonged slump in crude prices, the chairmen of the Senate and House taxation committees say. “Without a doubt, we need to re-evaluate this,” ...

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North Dakota “Great Recession” real estate crisis?

real estate crisis indicated by unfinished apartment

The North Dakota Office of State Tax Commissioner recently reported a $63 million shortfall in anticipated sales tax collections in December of 2015. Sales tax collections have declined by over 50 percent in some oil patch cities. Even with a massive state investment program and projects that were financed prior to the recent decline in oil prices, sales tax revenues still collapsed. Plunging sales ...

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Houston Has Highest Chance of Home Price Declines

As a whole, U.S. real estate has a low chance of experiencing a drop in prices. But energy-dependent areas are more vulnerable. Across the entire country, there is a six percent likelihood that residential home prices will decline during the next two years. While the national risk level is low, Energy Patch states — those dependent on coal, oil or ...

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Mortgages 101: taking the best route to your new home

Purchasing a home The time has come to buy a house. Cue the applause. It’s exciting news! All that hard work has paid off.  Though once the excitement dies down, nervousness might take its place.  For those who’ve never purchased a home before, the process can be especially intimidating. The mortgage industry isn’t known for easy to understand rules and ...

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