Ryan Dezember
speaker
644 appearances
11 recordings
1 series
first heard May 2018
last heard Jun 2024
Ryan Dezember’s voice in public audio — every appearance, attributed to the second.
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Appearances
And the reason is, is because despite the recent rise in oil and natural gas prices, producers around the world and particularly in the US are holding back on drilling.
They have been trained by their investors to be focused on profitability and not just volume.
They were really stung last year by the collapse in oil prices.
And drillers have been really shy about drilling.
And of course, propane is a byproduct of refining crude oil and also is a byproduct of natural gas drilling.
And we've seen big reductions in the amount of activity.
And that's leaving supplies a little short while demand remains steady and in fact is booming around the world in the export market.
Well, analysts and banks on Wall Street think that what will have to happen to ensure that there aren't price spikes this winter and shortages in certain areas is that the price will keep moving higher this summer to a point that it discourages overseas buyers and prompts them to cancel some orders.
That would then leave enough propane in the domestic stocks, which are really low for this time of year, to sort of replenish and be, you know, have enough to go around this winter.
So you have seen in the last 10 years a dramatic decrease in the number of homes, new homes that you can buy for under $200,000, while you've seen a surge of those that you can buy for, say, $400,000 or $500,000 and up.
And what that's done is it's created a really big dearth of that home for people who are in between an apartment but don't have the wherewithal to buy a house.
Thank you for having me.
Well, we don't actually know the exact number because a lot of sales fly under the radar.
But for those that we can track, we know that there were about 50,000, more than 50,000 purpose-built homes, specifically built to be rentals, for the 12 months ended on September 30th, the third quarter.
That's about 20,000 more than the average over the last 40 years.
You might imagine it varies quite a bit from year to year.
But that seems to be a severe undercount these days, given how many builders are selling homes in bulk packages, what they call wholesale, to investors, and how many investors are just going ahead and building homes for rent where they don't specify that as the end use on the building permit.
So we don't really know the full number, but the minimum that we know, we know is at a record.
The rental market is extremely hot, particularly for single family homes.
And that started, you know, that was starting already as millennials got older and were looking to move to the suburbs, but maybe had too many student loans or not enough save for down payment.
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