Strategies & Market Trends : Raptor's Den II


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To: SOROS who wrote (1077)5/18/2003 11:42:29 PM
From: Dave Bissett of 3430
 
Great post....to add another local observation....in Houston about 2-3 months ago our paper said that last year developers either staked or sold the second largest number of single family lots in the county's history. Rather than being jubilant I was made quite nervous by this statistic, for the article went on to say that the record for lots created/sold was set in 1983, and over the next several years mortgage foreclosures and personal bankruptcies hit records around here. I wonder if this time around will be just as bad or even worse.

Dave
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