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Old 11-20-2012, 01:48 PM
 
1,475 posts, read 2,771,559 times
Reputation: 1241

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Real estate frenzy: Houston home sales surge to record-breaking levels
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Old 11-20-2012, 04:44 PM
 
Location: Waterworld
1,031 posts, read 1,452,022 times
Reputation: 1000
Wow, a little under 4.5 month supply. Great news for Houston.
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Old 11-20-2012, 07:49 PM
 
12,735 posts, read 21,783,641 times
Reputation: 3774
Whoa!
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Old 11-21-2012, 09:05 PM
 
94 posts, read 172,424 times
Reputation: 144
BUBBLE.

Mortgage rates are not naturally this low. When rates go up, prices will come down, leaving some people underwater.

Didn't we just see this **** six years ago already?
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Old 11-22-2012, 01:28 AM
 
1,045 posts, read 2,154,662 times
Reputation: 909
Wrong! Mortgage rates did not cause the bubble.
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Old 11-22-2012, 05:14 AM
 
2,277 posts, read 3,961,443 times
Reputation: 1920
Quote:
Originally Posted by Mr. Krinkle View Post
Wrong! Mortgage rates did not cause the bubble.
Nope, but they're a by product of the new nationally driven public debt bubble.
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Old 11-22-2012, 08:29 AM
 
Location: Houston, Texas
10,447 posts, read 49,662,314 times
Reputation: 10615
That article is very false. For proof you can do one or both of the following. You can look at the writer of that article and see he has very close ties to the NAR (National Assn of Realtors) as well as many other Real Estate related organizations which strongly biases his opinions............or you can ask anyone of the more then 50% plus unemployment rate of the unemployed construction professionals.

Ralph Bivins needs to look up the word "frenzy" he used in describing home sales. He obviously don't know what it means.
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Old 11-23-2012, 09:39 AM
 
18,130 posts, read 25,291,852 times
Reputation: 16835
Thank you Rick Perry for all your hard work
(Obama had nothing to do with this, as usual)
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Old 11-23-2012, 10:32 AM
 
1,475 posts, read 2,771,559 times
Reputation: 1241
Quote:
Originally Posted by Dopo View Post
Thank you Rick Perry for all your hard work
(Obama had nothing to do with this, as usual)
Obama? Seriously? Thank the oil and gas sector and the fact that TX is a right to work state for the cheap cost of living. On second thought, Obama probably is partly responsible. If the democrats didn't ruin the north, TX would never see the influx of people moving to TX for jobs. God knows they aren't moving to TX for the weather right?
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Old 11-23-2012, 11:07 AM
 
Location: plano
7,891 posts, read 11,413,575 times
Reputation: 7799
Quote:
Originally Posted by HoustonProfessional View Post
BUBBLE.

Mortgage rates are not naturally this low. When rates go up, prices will come down, leaving some people underwater.

Didn't we just see this **** six years ago already?
I agree this seems like a price bubble due to the super low mortgage rates, however this is nothing like the national wide mess of which we are still struggling to overcome and will be a while longer. The national disaster was caused by failed under writing standards. How anyone could believe home prices couldnt go down when home buyers had no down payment so no skin in the game and when incomes werent checked.

I cant believe how the federal lawmakers, the mortgage industry and yes even realtors as well as individuals who lied about income or assets or both to buy a home.

The scale and fundamentals of Houston's current surge support a long term stable housing market in Houston.

It has no similarities to the national disaster we still living.....we fail to understand what happened at the risk of seeing it repeat
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