From the February issue: When oil prices drop — and anyone who has read a newspaper recently or gone to the gas station to fill up their tank knows they are at rock bottom — Americans get giddy. It’s also a source of political pride as President Barack Obama made clear in his State of the Union address last month. “Thanks to lower gas prices and higher fuel standards, the typical family this year should save $750 at the pump,” he told the nation.
But the effect of lower oil prices is a little more nuanced when it comes to New York City real estate. [more]