Do Declining Oil Prices Affect Homeownership?

first_img About Author: Xhevrije West Tagged with: Oil Prices Pro Teck U.S. Housing Market Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Home / Daily Dose / Do Declining Oil Prices Affect Homeownership?  Print This Post Related Articles The Best Markets For Residential Property Investors 2 days ago Oil Prices Pro Teck U.S. Housing Market 2016-01-26 Brian Honea Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. center_img in Daily Dose, Featured, Market Studies, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago As oil prices continue to decline in the U.S., many in the mortgage industry are expressing concern about how America’s new crisis will affect the housing sector.ProTeck Valuation Services released its Home Value Forecast Tuesday, which explains how U.S. oil prices will affect the housing market, particularly home values.“Many of us are enjoying the benefits of oil at its lowest price in over 12 years, in the $30 a barrel range as of this release,” said Tom O’Grady, CEO of Pro Teck Valuation Services. “The impact on the U.S. oil industry, however, has been alarming.”To provide a clearer picture of the oil crisis, ProTeck explained that at the end of December 2014, there were 1,882 active oil rigs in the U.S.  Just a year later, that number has fallen to 714. In the state of Texas alone, the rig count dropped by more than 62 percent in 2015.A report from Capital Economics found that there are two ways that lower oil prices can affect the economy, but ultimately feels that the decline in oil prices will boost economic growth.“In principle, a lower oil price should be positive for the world economy. The transfer of income from producers to consumers, who are more likely to spend on other goods and services, should boost global demand,” Capital Economics stated. “At worst, the impact might be expected to be neutral, with the winners offsetting the losers. In practice, though, the net impact of the recent slump in oil prices appears to have been negative or at least perceived as such in financial markets.”The report continued, “On balance, then we continue to expect an extended period of lower oil prices to boost global growth over the next few years, even if this process may take longer than we had anticipated.”Perhaps the most interesting connection between oil prices and housing was recently made by Bloomberg Business writer Tracy Alloway and Bank of America analysts.Alloway reports that one year ago, Bank of America connected the subprime mortgage crash with low oil prices. So could this oil crisis be the first sign of a subprime mortgage crash?Bloomberg reports that Bank of America analysts recently said this about the oil prices and subprime crisis relationship:The pattern of the decline in the price of oil that began in mid-2014 is remarkably similar to the 2007-2009 pattern of the price decline of ABX, the credit derivative index that referenced subprime mortgages and, ultimately, the U.S. housing market. Given that both housing and oil prices were fueled to spectacular heights in the two periods by massive credit expansion, it’s probably more than just coincidence that the respective “bubble” bursting patterns are so similar.Consider how things tend to work. Denial on what constitutes fair value is a big component of bubbles, on the part of both market participants and policymakers. When perceived “bubbles” burst, markets take their time in steadily shredding views of the perception of fundamental value, as prices move lower and lower. Along the way, many will cite “technical factors” as the cause of the decline, which in some way suggests the price decline may not be real when in fact it is all too real. In the end, the technicals drive the fundamentals, as credit flees and borrowers go bust, and a feedback loop lower kicks in. Lower prices beget accelerated selling, as asset owners need to raise cash. It could be margin calls or it could be producer selling needs, it doesn’t really matter: the selling becomes inevitable and turns into forced selling. Do Declining Oil Prices Affect Homeownership? Servicers Navigate the Post-Pandemic World 2 days ago January 26, 2016 2,140 Views Previous: Tech Talk: How TRID Changed the Game Next: DS News Webcast: Wednesday 1/27/2016 Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

Leading a culture transformation at your credit union

first_imgLori Gallegos, executive vice president/chief operations officer of $429 million asset First Credit Union, Chandler, Ariz., was named Professional of the Year at the 2015 CUNA Operations, Sales & Service Council Conference.She discusses the credit union’s efforts to expand its sales and service culture.CU Mag: What was the driving force behind your decision to expand your sales and service culture?Gallegos: We realized that a structured approach to deepening member relationships was going to be essential to our future growth. Our members deserve the consultative conversations that are the foundation to our sales/service strategy: We’re working with our members to establish the best combination of products and services for their financial success. continue reading » 3SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Live match preview – N Ireland vs Slovakia 12.11.2020

first_imgTeam news, stats and analysis ahead of Northern Ireland in the European Qualifying play-off final on Thursday; kick-off 7.45pm.Like Scotland, it was also penalties that saw Northern Ireland into the European Qualifying play-off final, beating Bosnia and Herzegovina 4-3 in the shootout after a 1-1 draw. Slovakia had also won on spot-kicks, beating the Republic of Ireland 4-2 following a goalless draw.- Advertisement – 1:26 Jordan Jones during the friendly match between Lyon and Rangers at the Groupama Stadium 1:09 1:09 Steven Davis Northern Ireland’s Steven Davis and Josh Magennis say reaching a second European Championships would be just as special as the first Northern Ireland captain Steven Davis added:“For me as well, I am probably getting to the latter stages so I don’t know when these opportunities come around again. Even the message to the younger players would probably be the same because you just don’t know in football.“When you get these opportunities, and when they do come around, you have to try to make the most of them.”Opta statsVictory for Northern Ireland will see them qualify for the European Championship finals for the second time and a second consecutive tournament, reaching the Round of 16 at EURO 2016.Slovakia are looking to reach the European Championship finals for a second time, qualifying for EURO 2016 previously.Northern Ireland have lost six of their last 10 matches in all competitions (W1 D3), losing their last two in a row – they last lost three consecutively in November 2017.Slovakia have lost their last two matches, losing to Scotland and Israel in the UEFA Nations League in October; they have not lost three in a row since October 2016.Since they last had more shots than an opponent in a match in June 2019 vs Belarus, Northern Ireland have attempted just 72 shots in 11 matches while facing 186 themselves – Norn Iron have only had 10 shots in one match since then (vs Bosnia in October, 13).Since the arrival of manager Pavel Hapal, Marek Hamsik has been directly involved in more goals than any other Slovakia player (6 – 4 goals, 2 assists). – Advertisement – Northern Ireland striker Josh Magennis told Sky Sports News:“It would be absolutely massive. To say you got to one major tournament is beyond believable, to say if you were able to get to two, to go to both, it will be class.“There will be as many tears as there was the first time, so it will be amazing. If you need any more inspiration or you need to get yourself geed up for these games, then I think you are in the wrong sport.” Northern Ireland’s Steven Davis and Josh Magennis say reaching a second European Championships would be just as special as the first NI fansImage:A handful of Northern Ireland fans will be allowed into Windsor Park on Thursday Kick off 7:45pm Steven Davis Sky Sports announced last week that both Scotland and Northern Ireland’s play-off games will be free-to-air for UK customers on what is sure to be a dramatic night of football.Northern Ireland vs Slovakia will be shown live on Sky Sports Premier League from 7pm and free-to-air on Sky Challenge; kick-off at 7.45pm.You can also follow all the latest in our dedicated live blog across Sky Sports’ digital platforms, including build-up, match commentary and the latest analysis. Plus, watch in-game goals and free match highlights shortly after full-time.NI fans back for crunch match However, after a wonderful run of six wins between March and October 2019, Northern Ireland have won just once since, although it was their crucial play-off semi-final last month. They’ve lost six and drawn two of the remaining fixtures, with Ian Baraclough replacing Michael O’Neill in June 2020.Northern Ireland are winless in three matches against Slovakia (D1 L2) since a 1-0 friendly win in March 1998 with Steve Lomas scoring the winner. The last meeting between the two was a friendly back in June 2016, with the sides sharing a goalless draw.Team news If Northern Ireland win…If Northern Ireland beat Slovakia, they will be Path B winners and go into Euro 2020 Group E with Spain, Sweden and Poland. – Advertisement – Thursday 12th November 7:00pm Rangers forward Jordan Jones has been left out of the Northern Ireland squad for their Euro 2020 play-off after breaching coronavirus rules but manager Ian Baraclough says the player has apologised and can return in the future After playing at their first European Championships in 2016, Northern Ireland are looking for back-to-back appearances with a victory on Thursday. They famously reached the round of 16 as one of the best third-place teams before being knocked out by Wales. More than 1,000 fans will be at Windsor Park for Northern Ireland’s Euro 2020 play-off final. A total of 1,060 supporters will be allocated socially distanced seats in the 18,500 capacity stadium.Irish FA chief executive Patrick Nelson said: “We have worked closely with the Minister for Communities, Carál Ní Chuilín, and her officials, as well as the team at Belfast City Council, to land on this number.“Our own staff have also played a significant role in this and we’re delighted to have fans back at the National Football Stadium at Windsor Park, in a safe and responsible setting, for one of our biggest games in recent times.”Magennis: Tears if NI reach Euro finals There are a few Northern Ireland absentees. Jordan Jones is missing after breaching coronavirus protocols with Rangers, and Joel Cooper, Trevor Carson (knee), Corry Evans (hamstring) and Matty Kennedy (knee) all missing. But Baraclough said there were no other issues within the squad – giving Jonny Evans a clean bill of health following his own recent injury set-backs.Rochdale’s Ryan McLaughlin – brother of Sunderland right-back Conor – has been called into the squad alongside youngsters Ethan Galbraith and Conor Hazard, who have been promoted from the U21s.Kyle Lafferty suffered the loss of his sister last week, while George Saville arrived in Belfast late after a family emergency which kept him out of Middlesbrough’s goalless draw at Brentford at the weekend, but Baraclough said both players were available.How to watch – Advertisement –last_img read more

Arsenal vs Valencia TV channel, live stream, time, odds and team news for Europa League semi-final

first_imgShkodran Mustafi goes up against his former side (Picture: AMA/Getty Images)When is Arsenal vs Valencia?AdvertisementAdvertisementThe match is on Thursday 2 May with kick-off at 8pm at the Emirates.What TV channel is Arsenal vs Valencia on and is there a live stream?BT Sport 2 will be showing the game live with coverage starting at 7.15pm.Subscribers can stream the action on BT Sport Player or watch on the BT Sport app.More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing ArsenalTeam newsAaron Ramsey and Denis Suarez are out with hamstring and groin problems respectively.However, Emery should have Mesut Ozil and Nacho Monreal available after injury.Valencia are without Geoffrey Kondogbia and Denis Cheryshev through injury.What are the odds? (Courtesy of Betfair)To win matchEVS Arsenal12/5 Draw29/10 ValenciaTo Qualify8/11 Arsenal11/10 ValenciaMORE: Jamie Carragher sends warning to Luis Suarez ahead of Barcelona’s trip to LiverpoolMORE: Virgil Van Dijk reacts to Liverpool’s Champions League defeat to Barcelona Phil HaighThursday 2 May 2019 11:38 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link Advertisement Arsenal boss Unai Emery managed Valencia from 2008-2012 (Picture: AFP/Getty Images)Arsenal begin their Europa League semi-final tie with Valencia with the home leg at the Emirates on Thursday night.It has been a disappointing week for English clubs in Europe so far, with Spurs and Liverpool losing Champions League matches with Ajax and Barcelona respectively, but Arsenal fans could not care less if they beat the Spaniards.Gunners boss Unai Emery is facing his former club after taking charge of over 200 Valencia games from 2008-12.There are plenty of connections between the clubs with Arsenal defender Shkodran Mustafi being signed from the La Liga side, while Valencia have former Gunners Gabriel Paulista and Francis Coquelin in their ranks.ADVERTISEMENT Arsenal vs Valencia TV channel, live stream, time, odds and team news for Europa League semi-final Comment Advertisementlast_img read more