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Oil rout squeezes US property owners in energy hubs

Lenders reassessing risks as US$1 trillion of property loans become due over the next three years

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The 50 per cent plunge in crude values since June is already dragging down property prices in Texas, according to Green Street Advisors LLC. Houston (above) is home to more oil companies than any city in the world.

New York

MORE than US$1 trillion in US real estate debt from the last decade's property boom is starting to come due as oil prices stagnate, squeezing property owners in cities and towns centred around the energy business.

The 50 per cent plunge in crude values since June is...

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