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

Do countries like Saudi Arabia, Bahrain, and Qatar even have consumer taxes?

 

Ouch, it's a lot worse than I expected in early 2015.

I didn't get one of the jobs that I was a finalist for (outside of O&G) so I still have one more out there that I'm supposedly a finalist for with one other person. Final round of interviews was last week. If I don't get that, I'm back to nothing in the pipeline. I've applied for like 15 jobs since yesterday. Effin sucks.

 

Once they start taking away "perks" the citizens will start to get restless. Not all the people in these oil nations are rich. Low prices are the opiate for the masses. Venezuela isn't a rich country but look what happened when they raised gas prices back in the early 90s. There was a wave of protests and riots.

 

The sales of many masterplanned communities around Houston have bad either stagnant or a decline in home sales. Meanwhile, it looks like the rest of the nation is booming. I applied for a job out in LA while living in Houston and they still called me in to fly for an interview. Would not have happened two years ago.

 

Don't feel too bad. I was looking for a job for a little over a year. I'm in accounting, but kind of a "tweener" in experience. With so many people looking for work, i was always on the lower end of the experience range with others who were looking for similar jobs (I had about 7 most of the time I was looking, while others had 9-12). I ended up landing somewhere I think will be good.

I got pretty discouraged during the process, but it will come. Jobs are out there, just need 1 of them.

 

what's a good link to track the price of oil?

 

http://www.investing.com/commodities/crude-oil

 

Sending good thoughts your way! Best of luck, my friend!

 

wouldn't there be lower home sales because these MPC don't have inventory anymore?
it's not an endless supply..

 

Some but most of those for Houston aren't that way. That's why Cinco isn't on the list because it is pretty much built out now.

 

That chart could be a little misleading as it is comparing the Top Selling MPCs for 2015. For instance Riverstone moved from #4 to #5. That could just mean they are selling out inventory like someone said earlier. Wildwood and Canyon lakes only shifted down 1 or 2 spots. Only one that had a significant drop was Aliana. 5 of the top 20 is still in Houston. That's a quarter of the chart. I do believe there is a drop in home sales in Houston but I'm not sure this chart supports anything.

 

better chart would have been of any home sales in houston. not just MPC.
http://www.har.com/content/mlsprint

 

What banks have the most exposure to Texas? Housing prices should be closer to '10 given oil is at 10 year low, and I don't see it changing in the short term. Might be the next great shorting opportunity.

 

Houston Real Estate Milestones in December

1. Single-family home sales fell 9.4 percent compared to December 2014, marking the third consecutive monthly decline;
2. Total property sales dropped 9.9 percent (6,988 units);
3. Total dollar volume decreased 10.9 percent to $1.8 billion;
4. At $216,000, the single-family home median price achieved a December high;
5. Single-family homes months of inventory climbed to a 3.2-months supply versus 2.5 months a year earlier;
6. Townhomes/condominium sales dropped 2.9 percent with the average price down 14.6 percent to $197,904 and the median price up 1.2 percent to $159,900;
7. Leases of single-family homes rose 2.9 percent with rents flat at $1,710;
8. Leases of townhomes/condominiums declined 3.6 percent with rents down 3.1 percent at $1,459.

 

Thanks for the info, I close to taking the plunge and purchasing my first house...as it seems we may have reached the point of settling down.

I'm tired of renting....paying other people's mortgage plus some.

 

Thanks. I needed to read this post, tbh. I was going to be offered a Senior Acct job and was told that they couldn't get the green light to fill the position. I wasn't shocked in the least when I heard the HR talent person tell me this today. That's the scary part.

Thanks, J Sizzle. I have some time..hoping somewhat sooner than later.

 

I think this article offers a comprehensive overview of oil and it's future.
Talked with my nephew the big-wig investment advisor and they are nibbling on expectations of a price rise in 3 or 4 years. I don't see it, I think oil's usage rates will continue to drop, not from the goofy millennials points in this article (author's immediate circle of friends I guess overvalues that perception) but by the rise of alternative and renewable energy. I think the public's perception of carbon burning is going to change over time like most social acceptance issues.
They get schooled every day on Climate Change by credible voices and the momentum starts to move.

Anyway, worth the read:
There will be chaos: Big Oil’s collapse and the birth of a new world order
http://www.salon.com/2016/01/14/the...urce=fark&utm_medium=website&utm_content=link

 

Welcome to the game Iran! Sorry not sorry your profit expectations aren't as high as you'd expected.

 

Interesting if Iran can produce as much as it says it will. I don't think they can with their infrastructure.

Iran Oil Production

 

so is this a supply spike or demand crash? combination?