REAL ESTATE ECONOMICS
HAPPY NEW YEAR!
We're getting feedback on 2007, and it looks as if the government numbers (a 35% drop in new home sales) is polled from only five states!! And those five are the ones in which there was a sharp run-up in prices.....ergo the hardest hit when the fraudulent mortgage fiasco became public. Five states! Now, how is that serving the market? Just five? Why don't the others have a say in the averages? In Texas, for example (especially East Texas), we've not had much of a slowdown. Somebody needs to call the Texas Association of Realtors, or the Tyler Association of Realtors, and get some real numbers.
We're getting feedback on 2007, and it looks as if the government numbers (a 35% drop in new home sales) is polled from only five states!! And those five are the ones in which there was a sharp run-up in prices.....ergo the hardest hit when the fraudulent mortgage fiasco became public. Five states! Now, how is that serving the market? Just five? Why don't the others have a say in the averages? In Texas, for example (especially East Texas), we've not had much of a slowdown. Somebody needs to call the Texas Association of Realtors, or the Tyler Association of Realtors, and get some real numbers.
posted by John and Flo Martin at 10:04 AM
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