codyvette

iTrader: (24)

Called that one! LOL. Man, I think we have all been the numb nuts that jumped the gun. At least you had the ***** to admit it and apologize.

Blown06

iTrader: (32)

I had kind of figured that, but wasn't sure so I held my ground. I take back my comments. Your folks are good people.

99FRC

iTrader: (5)

Oh man, that made me laugh so hard! I think this is the funniest sequence of events I've seen on Tech in years. LOL! Thanks, guys!

oscs

iTrader: (19)

this thread just keeps delivering! The best part of it all is that everyone here can agree that htownws6 is a complete moron.

codyvette

iTrader: (24)

I wouldn't say that. I will agree he has done some dumb **** in this thread but all of us have been the dipshit in the crowd. People talk about buying dumb **** when we all do. That is what makes life worth while for us. The thing that makes the difference is when a man gets in a bind, how he handles the situation. We're all quick to judge. Offer an alternative once in a while and society will be better for it.

Blown06

iTrader: (32)

I have to admit, I was literally lol'ing when I typed that last comment.

J-Rod

I had a discussion with someone last night about exploration. He is involved with people who are in exploration, specifically, very involved in shale. According to him, most of the rigs that are parked are older less efficient models. Rigs that are newer and more efficient are still running. There are just way less of them.

Now even for those still out there it is not wine and roses in some cases people are drilling, just because they are trying to do whatever they can to stay afloat.

What he related was that by the end of this year there will be ~10,000 capped wells just sitting there waiting to come online when the economics make sense. So, I'm skeptical we'll see a shortage of oil that drive oil prices back up without anything short of a war. So its going to be interesting to see if anyone is going to blink in terms of production to try and drive up demand by cutting production. OPEC might have some control over its members, but it can't control non-OPEC countries.

At the more macroeconomic level here is an article for folks to read. It was written by David Stockman who was Regan's OMB director.

http://davidstockmanscontracorner.co...world-finance/

I was having a conversation with a friend who is probably the most market savy person I know. Basically the conversation boiled down to do you hope that a Democrat get elected so the economy collapses sooner so we get it over with sooner, or do you hope a Republican get elected so economic collapse is delayed a bit more.

Either way we are approaching the an economic singularity (a black hole) brought on by unsustainable debt. What you see in the oil patch is the same at a personal, corporate, and government level. Unsustainable debt...

ZONES89RS

iTrader: (25)

A republican would be great. Keep **** the way it is so we can prepare better for **** falling apart.

codyvette

iTrader: (24)

Well, concrete is still higher than a gerraf's ***.

ZONES89RS

iTrader: (25)

Yup. Fixing to bend over and take it. But I gotta have it done to get the shop built.

twinturbo496

iTrader: (2)

13 year low oil this morning.

Strange that housing prices are not coming down at all... Perhaps Houston really is diverse enough this time to avoid housing collapse. Or maybe the combination of layoff package + unemployment is keeping people afloat for longer than I expected.

I was hoping to buy a duplex or 4 unit apartment on the NW side for a reasonable price... looks like it isn't going to happen...

BigBronco

iTrader: (2)

We shall see. Houston is still fairly tied with the oil market but it is much more diversified than it was 16 years ago.

ZONES89RS

iTrader: (25)

I'm finding that after 8 years, both of my homes have gone to be worth 1.5x purchase price. Between that and getting **** paid off, things are hopefully going to start getting a lot easier.

ahawes

Housing market out here in Midland is still MOSTLY holding tough as well, and we sure as hell aren't diverse in economy. Odd thing for sure.

mikespeed95

iTrader: (1)

Sooner or later it's going to pop unfortunately.

oscs

iTrader: (19)

Yes it will

GMCtrk

iTrader: (23)

Housing prices have come down, inside the inner loop, which is great news for me. Housing has been out of control with Houston's market being massively over inflated (highest in the country, by far). Some areas out in the suburbs are still holding steady.

ahawes

Can't help but laugh a little about the 'inflated house prices' remark about Houston being out here in Midland. When we moved down we were paying $1200/month for a HORRIBLE 1br/1ba apartment. Left a 2br/1ba house on 3/4 of an acre in CA that had a mortgage of $700/month for it, it was a hard pill to swallow. We finally sold our place in CA and bought a house out here, I wish we had Houston prices (and grass for that matter, but you can keep the humidity :0)


I know the boom prices aren't coming back anytime soon but I just hope that we can get to that $60ish dollar range in the next 2 or so years so that companies here aren't scraping so much, just want a price that sustains the industry.

GMCtrk

iTrader: (23)

Typical comment for those that don't make the distinction between Houston proper and the outlying cities such as Katy, Sugarland or Woodlands.

My housing cost nearly doubled moving from Arizona to Houston.

ahawes

I'm plenty well versed in the outlying communities, even there you're getting a ton more bang for the buck than you are out this way, if not in the house itself then in the offerings of the community itself. You can get into very decent places at the $100/sq ft price point even in the places you mention. Out here you're in the hood at those prices and to get into a decent place you can be looking at as much as $150/sq ft for houses that are much older.


What part of AZ are you coming from though? Also very familiar with AZ, went to school and played ball at the U of A in Tucson. Aside from the greater PHX area the state is pretty economically depressed, of course housing prices are going to reflect that fact.