Although you may be tired of hearing about the Houston storm, you should keep an eye on what's happening with our oil refineries. I have posted some articles on my Facebook Emerging LA page so check it out. The issue is that as the refineries go off line, they affect the price of oil and thus gas. Guess what? That affects peoples pocket books and in many cases the general public will have to pull back on other spending to offset the increase in prices. If the refineries are off line for several months, this could dampen our economy. Trust me it's all related.
One of the things I am keeping an eye on is any change in our overall economic conditions. When Hurricane Katrina hit in September 2005, you could immediately see the decline in calls to my real estate office and the decline in people visiting open houses. This was the beginning of the end for that crazy rise. Big hits like this affect our economy overall and start to trickle in to local real estate markets.
I am not an economist but want you to learn what you need to watch for that could change/soften/increase our local real estate market. Check out #Emerging LA facebook now!
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