Home / Author Archives: Michael Marcil

Author Archives: Michael Marcil

North Dakota “Great Recession” real estate crisis?

real estate crisis indicated by unfinished apartment

The North Dakota Office of State Tax Commissioner recently reported a $63 million shortfall in anticipated sales tax collections in December of 2015. Sales tax collections have declined by over 50 percent in some oil patch cities. Even with a massive state investment program and projects that were financed prior to the recent decline in oil prices, sales tax revenues still collapsed. Plunging sales ...

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North Dakota’s $18.5 billion cash fortress

Despite the precipitous drop in oil prices, North Dakota has increased savings by $3 billion over the past 12 months. Bakken.com recently conducted an analysis of over 80 North Dakota funds and calculated the most recent balances to be in excess of $18.5 billion (see infographic). This represents a 22 percent increase from $15.5 billion in 2014 and a 125 ...

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