Wednesday, August 29, 2007

Subprime Woes Not Felt in Dallas Like Rest of Country

Could this actually be a positive report about real estate in the Dallas area? Why yes it is. Although everyone is still scared of what the future holds it's still nice to show that we are insulated from the doom and gloom of the Florida and California real estate markets. Dallas was 1 of 5 real estate markets in the country in the second quarter to see a gain in sales prices. I like these two takeaway quotes from the story.

"In a lot of places in Dallas, home prices are still going up by double
digits. "In other neighborhoods, they are actually falling. But across the board, the gainers outweigh the losers,"

"The mortgage shakeout is affecting other parts of the country a lot more than it is Texas. We didn't have anywhere near the level or magnitude of subprime loans that other markets did. But that doesn't mean that Dallas-Fort Worth homeowners aren't going to be hammered with a steady diet of bad news about the U.S. housing market. Those negative reports weigh on consumer psychology."

But then this isn't news to me.

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