How Declining Oil Prices Could Affect the Baton Rouge Economy

"Local experts say Baton Rouge residents shouldn't be concerned that the low cost of oil would bring down the price of their homes. They explain, in order for that to happen, oil prices would have to continue to decline for a long time.

'I don't think we're going to see an immediate impact on the housing market here in Baton Rouge. I think if we see that, it's going to be further down the road. Anywhere from a year to two years' explains Coldwell Banker ONE Realtor, David McKey.

However, if oil prices continue to drop for a prolonged period of time, it could affect our job industry.

'The impact of employment whether it be directly with people working in the oil and gas industry or on a state level where our budget is going to have to be cut, could in the future impact the housing market' says McKey."