What do you predict for future oil prices and the impact on your local economy? That might be the number one question I receive these days and I'm curious how other people are answering.

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Hank Dugie, Mr. League City (Brockway Realty, LLC)

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Dipti Thakkar

LAER Realty Partners - Andover, MA

On a team with Praful Thakkar

It is what it is!

Jun 21, 2018 11:30 PM

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Rainmaker
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Evelyn Johnston

Friends & Neighbors Real Estate - Elkhart, IN

The People You Know, Like and Trust!

WHAT?????? As a real estate agent people ask you about oil prices? Scratching my head...

Feb 12, 2015 12:23 PM

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Susan Alvine

East Hampton, NY

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Jimmy Williams

Keller Williams Elite Partners IV - Mount Dora, FL

Lake and Western Orange County Real Estate Expert!

Hank,

Like it or not oil drives our economy. Some regions of the country benefit from high oil prices, while other parts are hurt by high oil prices. The most notable sections of our economy affected by high oil prices are, grocery stores, retail stores, restaurants, and to an extent commercial real estate. With lower gasoline prices you should see family's being able to again afford restaurants, and other ancillary purchases. The money will be spent in either the gas tank or for pleasure.

I can only hope that prices will stay low for the above stated reasons, but the market is fickle and will flucate. However with the United States developing more crude oil and becoming more independent from foreign suppliers I believe we will be in a much better position for the long term.

Feb 12, 2015 01:35 AM

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Justin Allred

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Bob Crane

Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI

Forestland Experts! 715-204-9671

Not likely to have much effect, however the trump tariffs may

Oct 17, 2019 08:40 PM

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Rainmaker
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Praful Thakkar

LAER Realty Partners - Burlington, MA

Metro Boston Homes For Sale

I don't Hank.

Mar 10, 2018 07:06 PM

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Rainmaker
630,351

Ajay Pandya

e-Merge Real Estate Unlimited - Columbus, OH

Realtor Ajay Pandya

Well, they go up and down, Hank.

Feb 08, 2018 09:12 PM

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Rainmaker
1,683,918

Larry Johnston

Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN

Broker,Friends & Neighbors Real Estate, Elkhart,IN

Since we are in the RV capital of the world, Elkhart, Indiana, oil prices effect the Travel Industry. It's a big factor here.

Feb 13, 2015 12:50 PM

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Rainer
9,105

Justin Allred

Jimmy Williams (352) 874-2354 You are very correct. When I was focused on new construction, oil prices had a huge impact on supply prices. Usually we would see increases within 30 days as oil serged higher. Higer building costs mean higher finished product cost. As it was, the boom had turned into a collapse and the higher home prices meant that very few could afford or qualify for a loan. I read a news story a few weeks ago about how the Saudi king said he wouldn't lower output again and the price of oil per barrel would stay steady under $100 a barrel. I honestly believe that it was all an effort to kill the canadian pipeline. Thats a blog post in and of it's self. I do think that oil will be back above $100 a barrel before the end of summer.

Feb 12, 2015 01:40 PM

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William Feela

WHISPERING PINES REALTY - North Branch, MN

Realtor, Whispering Pines Realty 651-674-5999 No.

They will go up and they will go higher than before. Hopefully not in the short hall

Feb 12, 2015 09:57 AM

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634,582

Kathleen Luiten

Resort and Second-Home Specialist - Princeville, HI

Kauai Luxury Ocean Home Sales

I think they won't climb anytime soon. It's been great for our economy here on Kauai.

Feb 12, 2015 09:52 AM

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WHAT?????? As a real estate agent people ask you about oil prices? Scratching my head...
Hank,

Like it or not oil drives our economy. Some regions of the country benefit from high oil prices, while other parts are hurt by high oil prices. The most notable sections of our economy affected by high oil prices are, grocery stores, retail stores, restaurants, and to an extent commercial real estate. With lower gasoline prices you should see family's being able to again afford restaurants, and other ancillary purchases. The money will be spent in either the gas tank or for pleasure.

I can only hope that prices will stay low for the above stated reasons, but the market is fickle and will flucate. However with the United States developing more crude oil and becoming more independent from foreign suppliers I believe we will be in a much better position for the long term.
Not likely to have much effect, however the trump tariffs may
Since we are in the RV capital of the world, Elkhart, Indiana, oil prices effect the Travel Industry. It's a big factor here.
Jimmy Williams (352) 874-2354 You are very correct. When I was focused on new construction, oil prices had a huge impact on supply prices. Usually we would see increases within 30 days as oil serged higher. Higer building costs mean higher finished product cost. As it was, the boom had turned into a collapse and the higher home prices meant that very few could afford or qualify for a loan. I read a news story a few weeks ago about how the Saudi king said he wouldn't lower output again and the price of oil per barrel would stay steady under $100 a barrel. I honestly believe that it was all an effort to kill the canadian pipeline. Thats a blog post in and of it's self. I do think that oil will be back above $100 a barrel before the end of summer.
They will go up and they will go higher than before. Hopefully not in the short hall
I think they won't climb anytime soon. It's been great for our economy here on Kauai.