The Aberdeen House Prices & Rents thread

fun4everyone

Thrugelmir wrote: »

The impact is going to felt far wider than just Aberdeen.

I agree with you that the downturn is global and far reaching.

I was responding to the other poster, who insinuated the low oil price was good news (for the rest of the UK). I can understand that viewpoint.

Crashy_Time

fun4everyone wrote: »

I agree with you that the downturn is global and far reaching.

I was responding to the other poster, who insinuated the low oil price was good news (for the rest of the UK). I can understand that viewpoint.

Not sure if it is, savings on petrol won`t be passed on in any meaningful way, and if you don`t have a job you don`t really need petrol anyway, plus the deflation/credit crunch/basic chaos that will result is going to be bad for property prices.

wotsthat

Crashy_Time wrote: »

Not sure if it is, savings on petrol won`t be passed on in any meaningful way, and if you don`t have a job you don`t really need petrol anyway, plus the deflation/credit crunch/basic chaos that will result is going to be bad for property prices.

Sounds like someone who catches the bus and therefore hasn't filled up their tank lately.

Thrugelmir

fun4everyone wrote: »

I agree with you that the downturn is global and far reaching.

I was responding to the other poster, who insinuated the low oil price was good news (for the rest of the UK). I can understand that viewpoint.

Low commodity prices will result in smaller pension pots etc. BP and Shell for example generated around 13% of the total dividend paid by FTSE 100 companies in 2015. Many effects are far from being obvious.

wotsthat

Thrugelmir wrote: »

Low commodity prices will result in smaller pension pots etc. BP and Shell for example generated around 13% of the total dividend paid by FTSE 100 companies in 2015. Many effects are far from being obvious.

Whilst the effects are not obvious you've picked a negative potential effect. Of course, other companies not having to pay through the nose for diesel will be able to deliver their products more cheaply - maybe they'll be able to afford higher dividends.

If someone is going to be dramatically impacted by reducing BP dividends their pension pot is too small or under diversified.

CLAPTON

Thrugelmir wrote: »

Many effects are far from being obvious.

especially if one only counts the negatives

Crashy_Time

wotsthat wrote: »

Sounds like someone who catches the bus and therefore hasn't filled up their tank lately.

A bit like telling someone who doesn`t drink anymore that beer is cheap just now......:rotfl:

wotsthat

Crashy_Time wrote: »

A bit like telling someone who doesn`t drink anymore that beer is cheap just now......:rotfl:

Yes but you have form in mistakenly thinking that everyone's life is like yours.

Your rent hasn't gone up since you were a lad = nobody else's has either.

You don't have a petrol tank to fill = neither does anyone else.

Maybe your bus fare will get a bit cheaper.

Graham_Devon

wotsthat wrote: »

Yes but you have form in mistakenly thinking that everyone's life is like yours.

Your rent hasn't gone up since you were a lad = nobody else's has either.

You don't have a petrol tank to fill = neither does anyone else.

Maybe your bus fare will get a bit cheaper.

The problem here is that you appear to be stating "maybe X will happen, it's possible that Y might happen, and Z could potentially happen".

Others are stating what IS happening and it's happening right now (hence the stockmarket currently).

As for savings being passed on, there was a big bit in the news yesterday that energy companies are failing to pass on the savings. So again, the evidence suggests that all these "maybes" you keep referring to to argue against reality, are not materialising.

HAMISH_MCTAVISH

Graham_Devon wrote: »

As for savings being passed on, there was a big bit in the news yesterday that energy companies are failing to pass on the savings. .

Well Graham I was paying around £1.40 for fuel a few years ago and now I'm consistently paying just over £1.

So clearly a large part of the savings are being passed on.

As for that impact to the UK economy, PWC have just done a report on it, and they estimate that $50 oil if sustained for several years is worth around 1% more to GDP and roughly 120,000 additional jobs.

So clearly a benefit to consumers and the economy.

Against that of course you have to offset falling tax revenue to the government, which is not particularly material to the UK, but would be huge for Scotland had it gone independent.