Calgarypuck Forums - The Unofficial Calgary Flames Fan Community
Old 03-04-2015, 08:22 PM   #41
Red
#1 Goaltender
 
Join Date: Oct 2001
Exp:
Default

Saudi Oil Minister

From my perspective, demand is gradually rising, global economic growth seems more robust and the oil price is stabilizing. Saudi Arabia’s quest for market share is simply an effort to satisfy rising customer demand. We seek calm markets, because this benefits everyone.

Today, it is not the role of Saudi Arabia, or certain other OPEC nations, to subsidize higher cost producers by ceding market share. And the facts on the ground are very different anyway. Non-OPEC supplies are much larger than they were in the 1980s and a much more multi-national approach is required.




http://www.businessinsider.com/naimi...t-thing-2015-3
Red is offline   Reply With Quote
Old 03-05-2015, 09:31 AM   #42
polak
Secretly Jodi Foster
 
polak's Avatar
 
Join Date: Aug 2012
Exp:
Default

Quote:
Originally Posted by Red View Post
Thanks for saying that. I thought I was alone here.

There is a lot of belief that this "oil thing" will pass in a few weeks and no damage will be done. Just like the 08 crash that saw us drop house values by almost 20% that we just recovered last summer. That blip took 5 years to recover from. And that really was just a blip that was quickly fixed by government programs etc.

How do we fix these oil prices? How long before they bounce back to above $80? How long after will the Suncors start hiring back? How long after that will these people actually qualify for a mortgage again?

We could easily be in 2017-2018 by then. What mortgage rates will we have in 2018? Will we keep these emergency rates forever?
There is no guarantee that they "bounce" back to $80 any time soon. Unless you work for the CREB. They seem be very confident that oil prices will be back to sky high levels by spring, remember?

While there is still an ocean of full oil tankers sitting idle... in March.

Last edited by polak; 03-05-2015 at 09:38 AM.
polak is offline   Reply With Quote
Old 03-07-2015, 03:51 PM   #43
JRW
Draft Pick
 
Join Date: Jun 2014
Default

Quote:
Originally Posted by polak View Post
Here is how I see everyone who is heavily invested in Calgary Real Estate right now:

hehehe.... that's beautiful... I totally forgot about that guy...
JRW is offline   Reply With Quote
Old 03-08-2015, 10:35 PM   #44
Realtor 1
#1 Goaltender
 
Realtor 1's Avatar
 
Join Date: Feb 2009
Location: Calgary
Exp:
Default

Well the first week of nice weather and I think people will be very surprised by the next 2 months statistics.
I am extremely busy and buyers are buying - I am working on 2 offers this evening.
By all means it is no where close to what it was this time last year but it is stronger than what the media is portraying.
Realtor 1 is offline   Reply With Quote
Old 03-14-2015, 08:46 AM   #45
V
Franchise Player
 
V's Avatar
 
Join Date: Feb 2005
Exp:
Default

Quote:
Originally Posted by Red View Post
Thanks for saying that. I thought I was alone here.
I don't think you're alone. I think most rational people see a good downturn in the housing market. There's just disagreement in how hard it will hit.

You do come off a little bit like a guy who might finally be right after 10 years, and can't wait for it to happen.
V is offline   Reply With Quote
Old 03-14-2015, 10:09 AM   #46
JRW
Draft Pick
 
Join Date: Jun 2014
Default

So what happened on March 14th? MLS went a little crazy. When you select "Listed since 03/14/2015" you get a HUGE number of new listings just for one day, must be over a thousand (in Calgary alone).

Is this some software bug or the beginning of the spring listings?

Last edited by JRW; 03-14-2015 at 10:12 AM.
JRW is offline   Reply With Quote
Old 03-14-2015, 10:24 AM   #47
sa226
First Line Centre
 
sa226's Avatar
 
Join Date: Apr 2009
Location: Back in Calgary!!
Exp:
Default

It could be the change\update to the listing system that was scheduled to happen.
sa226 is offline   Reply With Quote
Old 03-14-2015, 12:05 PM   #48
lorenavedon
Backup Goalie
 
Join Date: Dec 2013
Exp:
Default

new listings have dried up substantially so the fear of a huge inventory build up is probably not going to be an issue (10k plus listings), but the existing stuff is not selling. So it's a stalemate right now.
lorenavedon is offline   Reply With Quote
Old 03-14-2015, 12:17 PM   #49
Kavvy
Self Imposed Exile
 
Join Date: Jul 2008
Location: Calgary
Exp:
Default

Quote:
Originally Posted by lorenavedon View Post
new listings have dried up substantially so the fear of a huge inventory build up is probably not going to be an issue (10k plus listings), but the existing stuff is not selling. So it's a stalemate right now.
New listings way down compared to earlier in the year, but the current pace (i.e. month to date) is still equal to that of a year ago.

So super over simplification, but supply and demand has two main factors here, new listings and Total Sales.

If we say that to maintain current prices, or even March 2014 pricing lets look at the same month from a year ago:

New listings for the month of March = current pace from a year ago (creb.com) (+0.15% increase)

Total Sales for the month of March = way down from a year ago (creb.com) (-27% decrease)

Doesn't this imply that the stalemate is broken?

Prices have yet to reflect it I admit, so doesn't it at least it implies the stalemate is heavily leaning to one side?

I guess I am just saying, the your post implies that the market active listings will remain semi-steady. However, when the supply side of a supply and demand equation isn't "dried up" but in fact constant with previous years, and the demand side has dried up, should we not expect a huge spike in listings?

Last edited by Kavvy; 03-14-2015 at 12:33 PM.
Kavvy is offline   Reply With Quote
Old 03-14-2015, 01:23 PM   #50
Kavvy
Self Imposed Exile
 
Join Date: Jul 2008
Location: Calgary
Exp:
Default

Quote:
Originally Posted by JRW View Post
So what happened on March 14th? MLS went a little crazy. When you select "Listed since 03/14/2015" you get a HUGE number of new listings just for one day, must be over a thousand (in Calgary alone).

Is this some software bug or the beginning of the spring listings?
I have found a couple listings that were previous listings with no price change... but no idea on the percentage.

This could also just Realtor's re-posting though and not a technical bug... I guess we find out tomorrow when stats come out.
Kavvy is offline   Reply With Quote
Old 03-14-2015, 04:12 PM   #51
Realtor 1
#1 Goaltender
 
Realtor 1's Avatar
 
Join Date: Feb 2009
Location: Calgary
Exp:
Default

We switched programs used on the back end a couple days ago (much needed) so I would assume anything "off" was related to this switch.
Realtor 1 is offline   Reply With Quote
The Following User Says Thank You to Realtor 1 For This Useful Post:
Old 03-14-2015, 07:33 PM   #52
Kavvy
Self Imposed Exile
 
Join Date: Jul 2008
Location: Calgary
Exp:
Default

Quote:
Originally Posted by Realtor 1 View Post
We switched programs used on the back end a couple days ago (much needed) so I would assume anything "off" was related to this switch.
It was totally a glitch, the number of new listings just posted since today has been since reduced drastically.
Kavvy is offline   Reply With Quote
Old 03-14-2015, 10:18 PM   #53
JRW
Draft Pick
 
Join Date: Jun 2014
Default

Quote:
Originally Posted by Kavvy View Post
It was totally a glitch, the number of new listings just posted since today has been since reduced drastically.
If you filter from Mar 13th instead of 14th, it's still there....
JRW is offline   Reply With Quote
Old 03-14-2015, 10:21 PM   #54
Kavvy
Self Imposed Exile
 
Join Date: Jul 2008
Location: Calgary
Exp:
Default

Quote:
Originally Posted by JRW View Post
If you filter from Mar 13th instead of 14th, it's still there....
I can be fairly sure it is a glitch then.

I checked late in the day on Mar 13 and that quantity wasn't there.

Despite this, inventory is going up at a slow, but steady pace for the month of March.
Kavvy is offline   Reply With Quote
Old 03-14-2015, 11:16 PM   #55
JRW
Draft Pick
 
Join Date: Jun 2014
Default

Quote:
Originally Posted by Kavvy View Post
I can be fairly sure it is a glitch then.

I checked late in the day on Mar 13 and that quantity wasn't there.

Despite this, inventory is going up at a slow, but steady pace for the month of March.
That's normally how it works I noticed. If you filter just for one last day, the 24h timeframe keeps moving and shows less and less houses throughout the day (or night) as you check. The hour of when they were posted makes a difference. Eventually you have to go one day earlier to show all the houses that got added the next day.
JRW is offline   Reply With Quote
Old 03-15-2015, 12:42 PM   #56
Kavvy
Self Imposed Exile
 
Join Date: Jul 2008
Location: Calgary
Exp:
Default

So the stats for today on creb.com actually show that active listings over night are down, so the 1000+ new listings in 24 hours was a technical glitch.

However, I am slowly growing to hate that site.

At a certain zoom level, with "listed since" set to today, I had 130 postings and hour ago, now I have 48.

Last edited by Kavvy; 03-15-2015 at 12:48 PM.
Kavvy is offline   Reply With Quote
Old 03-18-2015, 07:09 AM   #57
Kavvy
Self Imposed Exile
 
Join Date: Jul 2008
Location: Calgary
Exp:
Default

Quote:
Originally Posted by Kavvy View Post
New listings way down compared to earlier in the year, but the current pace (i.e. month to date) is still equal to that of a year ago.

So super over simplification, but supply and demand has two main factors here, new listings and Total Sales.

If we say that to maintain current prices, or even March 2014 pricing lets look at the same month from a year ago:

New listings for the month of March = current pace from a year ago (creb.com) (+0.15% increase)

Total Sales for the month of March = way down from a year ago (creb.com) (-27% decrease)

Doesn't this imply that the stalemate is broken?

Prices have yet to reflect it I admit, so doesn't it at least it implies the stalemate is heavily leaning to one side?

I guess I am just saying, the your post implies that the market active listings will remain semi-steady. However, when the supply side of a supply and demand equation isn't "dried up" but in fact constant with previous years, and the demand side has dried up, should we not expect a huge spike in listings?
Every day since I wrote this reply active listings have since decreased:

March 14 - 5,776 active listings (was increasing every day up to when I wrote my reply)
Now: 5,680 active listings
Kavvy is offline   Reply With Quote
Old 03-18-2015, 08:22 AM   #58
Red
#1 Goaltender
 
Join Date: Oct 2001
Exp:
Default

New listings outnumber sales every day. But a lot of listings expire too so maybe that's why.

Or maybe they are still having issues with the Matrix software.
Red is offline   Reply With Quote
Old 03-18-2015, 08:49 AM   #59
lorenavedon
Backup Goalie
 
Join Date: Dec 2013
Exp:
Default

Quote:
Originally Posted by Red View Post
New listings outnumber sales every day. But a lot of listings expire too so maybe that's why.

Or maybe they are still having issues with the Matrix software.
I'm seeing tons of listings getting de-listed as delusional sellers believe that oil is headed back to $200/barrel in a couple months and real estate in Calgary will go back to Hong Kong levels.
lorenavedon is offline   Reply With Quote
Old 03-18-2015, 12:23 PM   #60
red sky
First Line Centre
 
red sky's Avatar
 
Join Date: Apr 2006
Exp:
Default

Quote:
Originally Posted by lorenavedon View Post
I'm seeing tons of listings getting de-listed as delusional sellers believe that oil is headed back to $200/barrel in a couple months and real estate in Calgary will go back to Hong Kong levels.
Totally. I am seeing the exact same thing and for the same reasons.
red sky is offline   Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -6. The time now is 04:41 AM.

Calgary Flames
2016-17




Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2017, Jelsoft Enterprises Ltd.
Copyright Calgarypuck 2016