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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: marginmike who wrote (385)	8/28/2001 1:16:32 PM
From: Tradelite	Respond to of 306849

I'm not sure Houston has ever fully recovered from that oil nonsense. Have spent the past two years on the phone with a broker down there, trying to unload parcels of land (subdivided residential building lots that were marketed as "luxury" calibre but are now still rural and sort of slummy) that a family member bought during the oil heyday. This is the only real estate I've ever seen that was purchased in the early 1970s and is being sold today at a loss....less than original price after 25 years! So far have gotten rid of about 20 one-acre lots and still have a resort-type, waterfront building lot to unload near the Gulf of Mexico---been up for sale for two years now.