Oil

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Odessa-Midland Home Prices See Double-Digit Declines From Bubble Peak

I was taking a look at home prices in the Odessa-Midland area this morning, and one thing is obvious. The bubble in the Petroplex is officially popping! Looking at the latest housing data from TAMU we can see that average home prices in Odessa have declined by 14 percent from their shale bubble peak of November 2014. Sales activity in the Odessa market crashed 40 percent YoY in November 2015. The latest available data show average prices in Midland have dropped by 17 percent from their June 2014 peak of $340,600. The fact that average [...]

Texas Employment Decreases By 25,400 Jobs In March In First Employment Decline Since 2009

You knew it was only a matter of time, but the 53-month streak of successive employment gains for Texas ended in March. The Texas Workforce Commission reported that Texas shed 25,400 jobs in March in what was the first employment decline since 2009. With the Texas rig count down 53 percent year-over year, this announcement was inevitable. Contrary to what many economists have tried to downplay, the huge loss of jobs seen in the energy sector also affects other employment that is marginally attached to all of that economic stimulus resulting from the recent energy [...]

By | 2017-12-22T02:38:38+00:00 April 19th, 2015|Economy, Energy & Utilities, Markets, Texas Employment|0 Comments

What The Oil Market Can Tell Us About Fed-Driven Asset Bubbles

For all of the talk about deleveraging in America, it's interesting to see that both the national debt and total credit market instruments tell a rather different story. That's because the Federal Reserve has been goosing the markets to keep them afloat while they exercise their undisclosed and primary mandate which is to keep the market from tanking and keep their friends in a job. If last week's market action wasn't telling enough, Jim Grant offered a bit of perspective on what's really going on. The problem with Fed-driven asset bubbles is that they always [...]

By | 2017-12-22T01:30:30+00:00 December 21st, 2014|Economy, In the Press, Markets, Politics, Real Estate, Spin Cycle, Video|0 Comments