Is anyone watching oil prices?

Holy smokes.  Oil prices were up $5 today! 

I read an article the other day that it had just passed it's inflation adjusted high from 1980.  It would seem gas prices will spike this summer at more than $4 per gallon.  Ouch.

Yet another challenge to the pocket books of struggling realtors.  That which doesn't kill us makes us stronger, I guess. 

I hope all is well,

Ken

 

 

3 Comments on Is anyone watching oil prices?

inflation is coming....  this is the wrong "fix" for real estate

03/05/2008 02:06 PM by Barnes Real Estate Brokerage


The only silver lining to high oil is that the higher it gets..the faster the Government and automakers will be scrambling to implement and develope technologies to cut back our countries dependency to oil. 

Overland Park Real Estate

03/05/2008 02:10 PM by Michael Pierce - Overland Park Real Estate - Leawood Real Estate (Prudential Kansas City Realty - Overland Park, Kansas)


Ken, inflation is here. The fed figures though that inflation is easier to reign back in then a recession. Thats always the balance, inflation vs. recession. A recession is basically 2 consecutive quarters of negative growth in the GDP. So its not really all that bad in the scheme of things. Its far from a depression and a recession historically lasts about a year. 2/3 of the the GDP is consumer spending so the geniuses came up with tax rebates, (extremely bad idea by the way.) Inflation is not great, but its the lesser of 2 evils so don't expect it to go away any time soon!

03/05/2008 02:14 PM by Jeff Fullmer - Credit/Investment Expert (National Foundation for Credit Excellence)


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Real Estate Agent: Ken Tracy Naperville Illinois Real Estate (KELLER WILLIAMS REALTY)
Ken Tracy Naperville Illinois Real Estate
Naperville, IL
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