[thackney]

I think there is still an “IF” attached to the prediction

if oil and gas producers see a 20 percent, or $13.5 billion, drop in earnings – defined as wages, salaries, benefits and business profits

http://fuelfix.com/blog/2014/12/19/texas-banks-already-seeing-some-problem-borrowers-as-oil-slides-regulator-says/

Texas could lose 212,000 jobs next year

Houston metropolitan statistical area, Kelsey estimates, could see 79,500 jobs lose if the oil extraction earnings fall by $6.6 billion.

[VerySadAmerican]

Texas is booming. Very hard to find a new home for less than $200,000 and those are rare. If the crash happens there will be some builders left holding the bag.