An article in todays Union Tribune discusses Chairman Bernanke’s signal to Congress that there will be another rate cut. Making money even less expensive. That is good news for homebuying,i.e. getting a loan. With the conforming limits having been raised and the cost of money being cut, it makes it attainable to get a loan for a home. Especially when you think about how it will affect Downtown San Diego Lofts and Condos with their prices. Now, it is due to this sluggish economy, low consumer confidence and rise in energy prices (to be commented upon down below) that is spurring this on. Read the article and form your own opinions on the matter.
As for Oil… a show on the History channel the other day (where my fellow History Channel watchers at?!?!) discussed the topic of oil, the cost of it and the supply of it. It is all but dried up in the US, as was predicted by one of Shell Oil’s head Geologists back in the 50’s. His name was Hubbard and in the 50’s he predicted the US production of Oil woild peak in the 70’s and all but run out by the 21st century. It was met with a lot of grumbling. You didn’t say things about our country back then that were negative. Rosie the Riveter would smack you upside the head. In this much more Liberal age, a lot of things are said freely. Like, the US pruduces 8 million barrels of oil per day but consumes nearly 24 million per day. We are getting two thirds of our oil from somewhere else. A lot of these somewhere elses aren’t aways very friendly to us and they are taking our wealth (I will leave the definition of that word up to the reader).
Why do I write this? Because, simply put, if you don’t want to pay exhorbinant prices at the pump on a semi weekly basis then you ought to live near where you work. It can cut down on those costs. Shorter commute time, less gas used, more public transit i.e. the trolley or bus can lessen your expenditure.
So there you have it. My spin on how to survive/take advantage of our current situation.