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Politics : Stockman Scott's Political Debate Porch
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To: RealMuLan who wrote (19423)5/21/2003 2:19:40 PM
From: TigerPaw  Read Replies (2) of 89467
 
Locally, the housing market is teetering on destruction.

Number of Austin-area houses for sale climbs but demand doesn't
statesman.com

With almost 9,800 houses on the market in April and sales down 8 percent compared with a year ago, buyers now hold almost all the cards in Central Texas -- a dramatic shift from just three years ago.
....
Because record low interest rates -- the 30-year fixed-rate mortgages averaged 5.45 percent last week -- allow home buyers to take on larger mortgages, prices have not fallen dramatically. Half the houses sold in April went for more than $157,700, only a 1 percent drop from a year ago.

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