Homestead mailing list

[Clansgian AT wmconnect.com]

Gene, another reporting of the situation in Houston reads thus:



"“Houston-area home sales fell 4 percent last year, but 2007 stillmarked the 
second-best year on record after sales peaked in 2006. The largest piece of 
the market, homes priced between $80,000 and $150,000,were the hardest hit 
last 
year, falling 11.6 percent."  



"“The number of listings expected to close within the next 30 days wasdown 
13.6 percent at the end of December. The number of available homesis also 
rising. At the end of December, 49,566 properties were on themarket, an 
increase of 
14 percent compared to last year.”



http://www.chron.com/disp/story.mpl/business/5460055.html



Leave it to the HAR which should be given as much credibility as the 
thoroughly discredited NAR to put such a spin on the news that the housing in 
Houston 
peaked more than a year ago and is on it's way sharply down.  The only thing 
'local' about the slump is that the bubble burst at different times in 
different places,

Theres a similar book-cooking optimistic view going on in reporting housing 
stats in NY.

As to land prices, we have just barely begun a housing slump that many say 
could last ten to twenty years.  People (you know some) are in denial.  Most 
of 
the ASKING price for land around here is not much different than it was at 
the 
fevered peak in '05, but nobody is buying any of it.  Bubble mentatity goes 
on for a while after bubbles burst.     </HTML>