Why is it that a title insurance guy is beating the drum about the potential economic impact of plunging crude oil prices?
You’re probably asking yourself ‘shouldn’t he be focusing on things that he knows about or that may affect his business?’
Well the truth is that the potential economic ramifications of crashing crude oil prices can and might impact the entire economy of which real estate is an integral part!
Why am I so focused on crude oil prices
As a ‘title insurance guy’ my business is reliant on a strong, vibrant and viable real estate market which not only means the buying and selling of property, but the ability for participants to get funding for those transactions.
And, as a strategic planner for my business, it’s my job to be aware of all factors that can either help or hurt that process.
Potential market disruptions, economic angst, a lack of consumer confidence or an instability in interest rates all definitely fall into that realm.
So while it’s never the intention in these articles to beat the proverbial ‘dead horse’ on a given subject, with crude oil about to trade with a $50-handle, the information about the potential economic and geopolitical impact of a bear market in crude is worth repeating!
Over the past few days I have posted two articles that will help the reader gain more of an overview on the how’s and why’s the decline in crude oil could mean much more than just cheaper gas when you go to fill up your car or a few more dollars in your pocket when you go shopping for Christmas.
Or, on the other hand, falling crude oil may have only the ‘tax cutting’ benefit that the pundits are speaking about.
We won’t know until we know!
If (and when) you read these articles, please let me know if you have any thoughts or opinions on if or how falling oil may help or hurt your business.
Michael Haltman, President of Hallmark Abstract Service, New York.
HAS is a provider of title insurance in New York State for residential and commercial real estate transactions specializing in the areas of New York City, Long Island and Westchester.
For anyone either buying a property or refinancing, remember that although your attorney will likely recommend a title insurance provider, you always have the right to choose your own title company (click here to learn more)!
If you have any questions you can reach Michael by email at email@example.com.Google+