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Old 06-24-2010, 09:34 AM   #21
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Originally Posted by IndependentlyPoor View Post
...The accompanying article is a rant about Greenspan's errors, but what it says about the credit bubble seems and its effect on house prices seems plausible to me. He is expecting another "leg down" in housing.
A Closer Look at the Second Leg Down in Housing | The Big Picture
How does this relate the the Austin housing market?

For the fun of it...Keith
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Old 06-24-2010, 09:47 AM   #22
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The conventional wisdom is that the Austin market lags the dominant trend by a year or two. I have no idea why that would be true, but one hears it. It seems like it held true this last go round. We sold our house near the US market peak (purely coincidence), but the Austin market continued to climb until last year (more than a year lag, but what the hey).

Things are really confused here now. Lots of stuff on the market at high prices, but sales seem sluggish. I see lots of For Sale signs that have been up for months and months. We have actually had a couple of condo developments auction off unsold units.

I just wish Austin would stop showing up in all those media pieces about cool places to live. REWahoo provides a much more accurate picture of life in central Texas.
Another reason not to live in Texas

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it isn't that long a stay.
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