Because I’ve Forgotten My Password For DallasDirt
I’ll post here and let Candy link to it. Word just came down that DFW foreclosures are once again down almost 20 percent from one year ago. But for the folks really shuttin’ ‘em down, look northward. The money quote from the DMN story:
“Denton County is on fire for foreclosures,” said Foreclosure Listing Service CEO George Roddy. “There has been a huge amount of development in Denton County. Consequently, there are lots of foreclosures in those new subdivisions.”
6 Comments to “Because I’ve Forgotten My Password For DallasDirt”
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Lenders got themselves into this mess so they need to put their big-boy pants on and take responsibility for their loose lending actions. This is a hard but much needed lesson for builders, developers, Realtors and lenders to learn.
Down 20 percent??????????//
You mean UP 20 percent
Is Wick still in denial?
This is why we just bought a 45 year old home in Arlington last week. It cost us half (or less) of what we could “afford,” and as a result, with excellent credit, we put down plenty of cash and got a 30-year fixed rate of 5.5%. Our mortgage is $100 a month less than our (already cheep) rent in Deep Ellum. Either my wife or I could lose our jobs and still keep the house.
Then again, a lot of people would sneer at a 2,000 sq. ft. house without granite counter tops and marble bathrooms. Even though we could afford those bigger and “better” things if we valued them, they wouldn’t make our lives any better in the end, and they definitely aren’t worth risking our future.
The problem is Jeff, that if we don’t keep pumping the economy and inflating value, the dollar becomes worthless and the entire US economy which is based on nothing tangible falls apart. What I’m saying is that we’re headed for a major depression and we need to push that off for at least as long as I’m alive.
Tim W.–I have been thinking about your comment, for about the last 2 days since I read it. Thanks for a quiet voice of reason, in the midst of this spenditall-gottahaveit-obsession with consumption for consumption’s sake.