Saudi Arabia to lower oil prices, the houston boom is over

It is good for people doing rework on wells. Since oil prices are low then can shut down the well and do some rework on it since they aren't losing as much money shutting it down.

 

When the oil companies suffer, chemical companies do well, so there's that.
Though, I don't think it's near as big.

 

You live in Houston. It hurts the city and that's the bottom-line.

You know those precious empty seats at Rockets games? Well, they'll still be empty but nobody will have bought them potentially.

 

Hopefully they lower prices so people who actually care can go

 

then i can buy it.

 

Then Les can't afford Harden and Josh Smith now becomes the focal part of the offense.

 

It hurts YOU. You've made that very clear. It's economics no need for you to be so scared. For every boom there is a bust. What do you want us to do?

 

if you own real estate in houston i'd be concerned.

 

If you own commercial real estate maybe. Not homes. Hell that bubble still hasn't popped.

Housing has become hyper inflated and trust me there area people chomping at the bit to buy as soon as there is a drop.

 

Look at this overreaction to the price fall. People acting like its 1986 in this thread when now is nothing lik 1986. It's more like 1998-1999, which cheap gas prices ($20 a barrel in today's prices) and a good US economy. Houston unemployment then....4.5%.

 

A lot of people came into the city for those pertro jobs or Jobs supported by those pertro jobs. When the petro jobs go then unemployment will be greater than 4.5%.

 

And they will move on to another city. Frankly it could be a relief to the city's failing infrastructure. The city can't sustain the growth. A temporary downturn could help elevate the stress. That's all this Arab stuff is, temporary.

 

Captain, "get off my lawn" over here.

 

Yup. waiting for houses to become affordable again.

 

The prices in the suburbs haven't gone up that much. If you live inside the city and you plan to have kids you will need to make sure you budget for private school so you have to include that in your costs.

 

I feel like the prices and demand went up significantly in Katy and Spring Branch.

 

Well, I'm thinking of moving, so they might start going down again.

I'm enjoying filling up both of my cars for less than what it cost me to fill up one of them when I bought it 8 months ago.

 

Clutch fans tipjar should be enough.. right?

 

People working in upstream are going to have just a little bit of a harder time, but not downstream. The energy industry also isn't 85% of the Houston economy (now 65%). The Panama Canal is still expanding which will bring more jobs to the Port. The medical industry is expanding and all of the other ancillary jobs created because of the boom. You are not going to see huge mass layoffs. Plus, the US economy is doing well too, so again, nothing like the late 80s. If anything, it will be more like the early 00s bust.

 

Sugar Land (one big reason is because it is its own city and its residents are in more than just O&G), South Katy, The Woodlands, and Missouri City will be fine. Great schools and good locations to job centers. I would feel worried about the MPCs that are further away like Cross Creek Ranch, Aliana, parts of Cypress (though the GP opening later this year will help North Cypress). In the city, inside 61p (including areas like Eastwood and East Downtown), Spring Branch, Memorial, and the energy corridor will all be fine.