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Oil drop may lead to US real estate slowdown

Demand for office space likely to decline in energy-driven markets such as Houston

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SET TO FALL: Companies including Houston-based ConocoPhillips and Marathon Oil Co said this month they plan to cut capital spending by about 20 per cent next year in response to the plunge in oil prices.

Seattle

THE drop in oil prices to five-year lows, while helping consumers, is sparking concern that leasing and construction demand will be hurt in some of North America's best-performing markets for commercial real estate.

Energy-driven markets such as Houston, Calgary and

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