Housing Bubble, Schmousing Bubble

Posted on October 8th, 2007 12:31pm by Trey Garrison
Filed under Local News

green_monopoly_house_2.jpgI waited as long as I could to mention this for fear of jinxing it, but all that’s left is a foundation inspection, and come on. What are the odds of a foundation problem in North Texas? My existing house sold after being listed for just 12 days. The one I’m buying? On the market eight days. The point? None whatsoever. Just being me, though I’m also doing my part to help alleviate local job declines in the real estate industry and help bring down the area “days on the market” average. A month ago, Steve Brown had some good points about why the local housing market is doing okay despite bubbles bursting elsewhere and the drag of the subprime lending crisis. Fortunately, the subprime crisis appears to have peaked.

8 comments

  1. Care to share the two listings? Also, would you say that your old home sold for above/below/at average price? Did you purchase for above/below/at average price?

    @ 12:55 pm on October 8, 2007

  2. Both went for asking price.

    @ 12:58 pm on October 8, 2007

  3. Ours was above neighborhood comps, the one we bought was below.

    @ 12:59 pm on October 8, 2007

  4. Thanks. One more question: What area of town. I have a home I am about to list in Grapevine and am concerned about the “bubble”. Your experience is reassuring. Thanks again.

    @ 1:13 pm on October 8, 2007

  5. Not to be Debbie Downer or anything, but mine has been on the market since March. It’s in the Las Colinas area right around MacArthur and 635.

    @ 6:23 pm on October 8, 2007

  6. [...] Yes, the local housing market is still doing just fine. But a local homebuilder, Centex, is feeling the pain. Centex has $1 billion in expenses it needs to write down. Ouch. [...]

    @ 10:20 am on October 12, 2007

  7. Greenspan has been dead on so far. I see no reason to doubt him.

    @ 10:47 am on October 12, 2007

  8. [...] Financial experts Every time I read an article like HSBC to Write Down Another 4.3 Billion I like to go back and read Housing Bubble, Schmousing Bubble.  In the 5 weeks or so since the experts at Frontburner pronounced that the subprime crisis has peaked, major US banks have announced almost $50 billion in losses and writeoffs. [...]

    @ 6:48 am on November 14, 2007