Housing in Dickinson, July 2015

Since 2009, homeowners, apartment owners, and property managers in Dickinson have really taken advantage of everyone.  The property owners increased their prices so much, that it was just barely worth it to come to work in North Dakota.  Yes, you could get a higher hourly wage and work overtime, but a one bedroom shitty old apartment would cost you $1,500 per month.  Now it is time for pay back, what goes around comes around.  Prepare to have your head shoved in shit and held there property owners!  Ha ha ha ha ha!  You caused everyone to have money problems, now you can have money problems!

I have explained in my blog posts after January of 2015, that approximately 20,000 oil field related jobs have gone away in western North Dakota.  The highest paying oil field jobs, those on the drill rigs, have gone away.  I would guess, that about 8,000 workers and about 8,000 of their family members have left the state of North Dakota since January of 2015.  However, there has probably been about 8,000 stupid people who moved to North Dakota since January 2015, those that neither read the newspaper nor watch the news on TV.

There are less oil field workers living in Dickinson now.  The oil field workers that remain in Dickinson are not as high paid as the ones who left, and there is much less overtime being worked now.  The demand for housing is not as great as it had been in 2009, 10, 11, 12, 13, 14.  Plus, plus, in the past year there have probably been at least 400 new housing units completed in Dickinson.  Ha ha, ha ha, ha ha.

Housing prices are going to go down, and down, and down for the next two years.  I have heard that real estate agents in Dickinson are telling people,”You had better buy now, prices are going to go back up in December.”  First of all you lying bitch, it’s 0 degrees Fahrenheit in December, cold and grey, nobody wants to be in Dickinson in December.  Don’t try to victimize me with your treachery and lying, anyone buying any housing in Dickinson will see its value drop about 5% by December 2015, and an additional 20% percent by December of 2016 after reality has set in.  I probably didn’t really figure the drop high enough, what do you think is going to happen when throughout every neighborhood in Dickinson, out-of-state workers are going to just pack what they can into their car and leave, starting about, now?  If there is no way to make your house payment, no way to get a good job in Dickinson, (like right now), what else are you going to do but leave?

I think that the oil field work will possibly pick up a bit in about two years, because of the amount of time it will take to come to the end of this slow down, and the lag time to start proceeding again with more oil field operations.  Think of it like a train, it takes a long distance to slow down, and it takes a long distance to speed up, it is not instantaneous.

Though I am not making much money at this time, one of the reasons that I stay here, is that I hope to be opportunistic when the housing prices reach bottom.  I think that it will take at least two years to get to a bottom.  I want to see housing prices go down and down, and then I want to buy something.  There is oil here, and in the future, oil field workers will have to come back here to Dickinson to get more oil out of the ground.  I would like to own something here in Dickinson because I see the likelihood, almost the inevitability, of oil field workers coming back to Dickinson in the future, and if I can buy something for a low price, and hold onto it long enough, I believe that I would eventually have something that was worth much more than what I originally paid for it.  However, if that ever occurs, I can chose to be reasonable in what I would charge for rent or for a selling price, I don’t have to take advantage of people in the way that other property owners have done in Dickinson.

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