2nd wave crash cities...Denver, Dallas and Austin!!!

[dgz]

I think that Dallas has fared much better than other cities in that the housing prices have always been relatively low compared to other metropolitan areas of similar size. Prior to the crash, prices were rising but no where to the extremes as was seen in other areas of the country, particularly the coasts and Vegas.

I sold my house recently in Plano for $5k less than I would've sold it for a a few years ago and then I bought my current house in Murphy at a similar price reduction. That doesn't seem like too big a drop, but that's just one person's experience.

[orbius]

Originally Posted by amerifree

americas-new-housing-crisis-capitals.html: Personal Finance News from Yahoo! Finance

Dallas and Austin were news to me. Denver and the rest of Colorado has been like watching a bus teetering on the edge of a cliff. Sellers around here have been running around wit their fingers in their ears, but the harsh reality is setting with the subtleness of a 300lb. gorilla.

As a renter looking to buy, I'm looking forward to the smack-down with sellers this year.

2010 is the year of the dead cat bounce in Texas real estate. Next year there will be blood on the street and no one will want to touch real estate with a 10 foot pole. If I was looking to buy I'd wait at least 2 years.

Austin is as overbuilt as California was in the 80's. The bottom in that real estate crash was a full 3 years after the dead cat bounce.

People have no idea what a real estate collapse feels like. They think last year was it and they're wrong. A collapse feels like you would rather kiss a skunk than consider buying property. The mere mention of real estate makes you feel physically ill.
Thats what it feels like and Texas is in the eye of the hurricane thinking the storm is over.