TX: 2000s depressesion :: CA : 1930s????

[CMDallas]

Actually in the NY Times today, it shows Texas is the only state in the Union NOT in rescission.
So if things keep on going the way they are Texas will be destination number one, like California was in the early 1900s.
IT will start to become a blue state and will be a Mix of Michigan 50 years ago and California...with a touch of Texas of course...
But I eeek at that day.
I don't want Texas to end up with Michigan's Curse....
or end up uber liberal like California.

[okaythen01]

so why is TX the only states not in recession? strong econmoy?

[Texas-RE-Broker]

Before this market downturn the Star Telegram posted an article that we would see a 50% app rate with in 10 years. I dont know if this will happen in that time period but it will happen

[Texas-RE-Broker]

Originally Posted by okaythen01

so why is TX the only states not in recession? strong econmoy?

Thing called oil & Gas. Barnett shale. Once the gas is gone in 100 years there is a pocket of oil under that

[loves2read]

I don't know if anyone has bothered to read current articles in FTW paper about the Barnett Shale retrenchment but price of natural gas is half what it was 6-7 mo ago and Aubrey McClindon of Chesapeake has 1) sold off massive amount of his stock to meet margin calls since the market has shorted it, and 2) said that his company (and probably quite a few others) have peaked on their purchases and drilling and will be slowing down their drilling activity...
so some people there are going to be laid off as well...

the fact is that many of the energy companies were thinking (or not thinking) and locked in their supplies of natural gas and oil for winter heating season when prices were high...so the fact that oil and natural gas prices on open market have dropped significantly over the past 3 months won't mean a thing when people get their winter gas bills or their heating oil bills up north...

even TX is going to feel the pinch--if Well Fargo merges with Wachovia then banks are going to be closed--both companies often have a branch within a couple of blocks of each other...
people are shopping less for somethings although I have seen lots of people in restaurants over the past couple of weeks...
just think it will take time...and frankly I don't think that there will be a 50 per cent appreciation rate--would like to see link to that story...

[Philip T]

Originally Posted by loves2read

I don't know if anyone has bothered to read current articles in FTW paper about the Barnett Shale retrenchment but price of natural gas is half what it was 6-7 mo ago and Aubrey McClindon of Chesapeake has 1) sold off massive amount of his stock to meet margin calls since the market has shorted it, and 2) said that his company (and probably quite a few others) have peaked on their purchases and drilling and will be slowing down their drilling activity...
so some people there are going to be laid off as well...

the fact is that many of the energy companies were thinking (or not thinking) and locked in their supplies of natural gas and oil for winter heating season when prices were high...so the fact that oil and natural gas prices on open market have dropped significantly over the past 3 months won't mean a thing when people get their winter gas bills or their heating oil bills up north...

even TX is going to feel the pinch--if Well Fargo merges with Wachovia then banks are going to be closed--both companies often have a branch within a couple of blocks of each other...
people are shopping less for somethings although I have seen lots of people in restaurants over the past couple of weeks...
just think it will take time...and frankly I don't think that there will be a 50 per cent appreciation rate--would like to see link to that story...

Well, at least you have a clue for is coming this way -- We have been to this rodeo before.

Game goes down like this . . .

1. National and worldwide energy demand runs high (had that)
2. Texas is doing good as a major energy producer and supplier (that is what has been going on)
3. National and worldwide recession (got that going, now)
4. Energy demand drops as well as prices (starting this month at a gas station near you)
5. Texas tanks downward in a way that even stuns the folks who knew it was coming. (happened before in 1986-7, and over due now. Texas gets hit harder than Autos and Detroit)

This whole row goes down like dominos. And the first have already fallen.

The impact here lands hard in 6 to 18 months depending on the energy price collapse rate.