Tuesday, January 03, 2012

ND Oil Boom Fuels Real Estate Sales in Arizona

USA Today --- "Flush with cash from an oil boom and plentiful jobs, North Dakotans are snapping up homes 1,500 miles away in balmy Arizona, where prices have plunged since the real estate bubble burst. 

"It boils down to the weather and taking advantage of the market," says real estate agent Rocky Parra of HomeSmart Realty in Gilbert, Ariz., a Phoenix suburb. He and wife Beverly, a native of Minot, N.D., have sold eight homes to North Dakotans in recent months. Parra is heading to North Dakota this month to meet with possible buyers.

"A lot of people have struck it rich," he says. "Oil companies are coming in and buying businesses and land. They're selling up there at the peak and buying down here at the bottom." Some want second homes. Others move outright."

MP: Drill, drill, drill in North Dakota = jobs, jobs, jobs = real estate sales, sales, sales in Arizona.  This provides another excellent example of the many positive spillover benefits of America's new age of energy abundance.

HT: Nick Schulz

8 Comments:

At 1/03/2012 11:43 AM, Blogger VangelV said...

Drill, drill, drill in North Dakota = jobs, jobs, jobs = real estate sales, sales, sales in Arizona. This provides another excellent example of the many positive spillover benefits of America's new age of energy abundance.

Learn baby learn. "They're selling up there at the peak and buying down here at the bottom." Sell at a peak and go somewhere that is very depressed.

 
At 1/03/2012 1:46 PM, Blogger kmg said...

Borat Hussein Osama does not approve.

 
At 1/03/2012 3:42 PM, Blogger Hydra said...

Another example of eat and run.

 
At 1/03/2012 8:33 PM, Blogger Benjamin said...

Best joke of the day:

"Mitt Romney is willing to say anything to get elected. I’m sure he would tell you that himself… if he thought it would get him elected."

 
At 1/04/2012 12:22 AM, Blogger Don Culo said...

^^^^^^^

Only Borat Hussein Obama would lie !!!!

The republiacns are honest, hard-working and are the only ones capable of returning our economy to the prosperous times 0f Dec 2008!!!!

Mitt Romney is the chosen one !!!!

 
At 1/04/2012 8:11 AM, Blogger Jim said...

Fracking injection wells have been shut down in Ohio due to earthquakes...

http://tinyurl.com/7hnf9hx

Arkansas has shut down wells...

http://tinyurl.com/frackingarkansas

Oklahoma earthquakes due to fracking...

http://tinyurl.com/frackingoklahoma

 
At 1/04/2012 10:51 AM, Blogger Hydra said...

So people are moving away because of the earthquakes?

 
At 1/04/2012 1:57 PM, Blogger juandos said...

"Fracking injection wells have been shut down in Ohio due to earthquakes"...

The brine wastewater comes from drilling operations that use the so-called fracking process to extract gas from underground shale. But Ohio Department of Natural Resources Director Jim Zehringer said during a news teleconference that fracking is not causing the quakes...

 

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