Dow Jones

ghuns · September 30, 2022, 07:30 AM

Quote from: neurosis on September 30, 2022, 06:36 AMPoint taken.

I'd hardly call current oil production "slamming on the brakes". We're still producing more now than when Trump took office. We're also projected to set new records in 2023.

Biden can't seem to do anything right. His rhetoric has both sides pissed off.

https://www.eia.gov/todayinenergy/detail.php?id=53479

The brakes were slammed on NEW production via the control of leases by the Biden Admin.

The main reason production continues to climb is that oil companies get better at extracting oil from the currently available leases. Also with oil prices very high they pull from less productive wells where their extraction cost is higher and they can still be making $$$.

gcode · September 30, 2022, 07:46 AM

Quote from: neurosis on September 30, 2022, 06:54 AMI was looking at mortgage interest rates the other day and they've almost doubled

yup and that is stalling the real estate market
we'll be seeing the prices crash before long

crazy^millman · September 30, 2022, 08:03 AM

Quote from: gcode on September 30, 2022, 07:46 AMyup and that is stalling the real estate market
we'll be seeing the prices crash before long

Yeah waiting for the bottom then will look at betting back into owning again. Rented for the last 12 years, but be nice to put that money towards something we can call our own.

TylerBeer · September 30, 2022, 08:51 AM

They should've tanked already, that HAVE to go down, no-one seems to be able to say how much but projections keep getting revised down. Builders have cut right down again and supply was already short. Only thing they can't tell is how much inventory is going to appear on the market, but so far, sellers haven't entered the market and anyone looking to capitalize on prices should've done it already given prices certainly won't go up. I think we'll see prices continue to go down but it will take 4-5 years to see the bottom

neurosis · September 30, 2022, 09:19 AM

Quote from: ghuns on September 30, 2022, 07:30 AMThe brakes were slammed on NEW production via the control of leases by the Biden Admin.

Right. This I was aware of.

mkd · September 30, 2022, 10:40 AM

here is a revelatory and rather shocking state of affairs video.
seriously good in the world of youtube finance

CNCAppsJames · September 30, 2022, 01:48 PM

OUr mortgage rate is 2.99%. Probably never see that in my life again.

CNCAppsJames · September 30, 2022, 01:52 PM

Quote from: TylerBeer on September 30, 2022, 08:51 AM...anyone looking to capitalize on prices should've done it already given prices certainly won't go up.

Our neighbor across the street must'v had a crystal ball. They sold at the absolute peak. They decided to move, and within 2 weeks house was up on the market and sold. $1.029mil for a house they bought for about $425k.

Incogneeto · September 30, 2022, 02:36 PM

Quote from: neurosis on September 30, 2022, 09:19 AM Right. This I was aware of.

Soooo what you are saying is when The Biden Admin says It's The Gas Companies Fault".

You knew it was "Biden Admin Policy"??

And yet you are still unconvinced??

If his admin had just left things alone we would be in better shape.

But No.....

His admin also sucks at foreign policy.

his admin also sucks at border security.

Notice I didn't blame him personally.

He is a doddering fool and manipulated.

mkd · September 30, 2022, 02:46 PM

house around the corner was bought by a flipper for 500. flooring and some minor sprucing-up and put it up for sale at $675 and some sucker pulled the trigger 6 months ago. I thought $500k was overpriced. Just went on Zillow...sumbitch, it's showing $711k.
My place lost $80k of fake zillow dollars from the peak....SO FAR

TylerBeer · September 30, 2022, 04:01 PM

man yeah the zillow amounts are total horseshit, but it seems like people were taking those initially too much at face value because it was 'new' - it doesn't take into account the actual condition anything is in, just entered facts. If you look at redfin my house is worth $900k, on Zillow it's 690 LOL.

TylerBeer · September 30, 2022, 04:05 PM

Quote from: CNCAppsJames on September 30, 2022, 01:52 PMOur neighbor across the street must'v had a crystal ball. They sold at the absolute peak. They decided to move, and within 2 weeks house was up on the market and sold. $1.029mil for a house they bought for about $425k.

people we bought from were friends of ours and moved from San Diego to Richmond VA, didn't sell at the peak but still made >$250k on their house after 5 years, and bought in richmond getting more house for like $475k, I was thinking we were suckers for still being here when it seemed like everyone was leaving. Well, couple winter/spring seasons later and they really want to move back but now can't afford to given the rates :/
I'm still a sucker

neurosis · September 30, 2022, 04:47 PM

Quote from: Incogneeto on September 30, 2022, 02:36 PMSoooo what you are saying is when The Biden Admin says It's The Gas Companies Fault".

You knew it was "Biden Admin Policy"??

No

Quote from: Incogneeto on September 30, 2022, 02:36 PMAnd yet you are still unconvinced??

I don't know what we're trying to convince me of. lol. so No.

Incogneeto · September 30, 2022, 04:49 PM

Quote from: neurosis on September 30, 2022, 04:47 PMNo

I don't know what we're trying to convince me of. lol. so No.

Yanking your chain.

get off the fence!!

Trump 2024!!

CNCAppsJames · October 01, 2022, 05:23 PM

Zillow should only be used as a very basic guideline.

My model of house with less extras (especially no solar) was selling north of $1.05mil. Zillow was "only" showing my house at $1.029-ish IIRC.

Buying my house vs. that house will save the owner at least $5,000/year because of the paid for 10kW solar array. None of that factors into the calculus.

Unless they live with polar bears, like I do, they'll probably owe an extra $200/mo on the electric bill to keep it under 70°F.

I would have gone to a 13kW array had I known better. But I digress.