I can believe this as I was in Williston ND for the last oil boom that ended in 1985/86 once the cost of oil exceeded the cost of production we started capping wells and shutting down, the whole Town of Williston pretty much turned into a ghost town overnight and local housing prices fell by over 60% . This time it will be much worse as most of North Dakotas economy is based on Oil and you would see such a huge impact I think it would ripple all across the country.