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Non-Tech : Investing in Real Estate - Creative Opportunities -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (1631)	6/1/2013 11:39:44 AM
From: John Vosilla	Read Replies (1) \| Respond to of 2722

The 1980s also taught Houston a lesson about real estate. Between 1982 and 1987, Houston suffered "one of the worst regional recessions in U.S. history," Jankowski said. The metro area lost more than 220,000 jobs -- one in seven in the region -- but added nearly 188,000 housing units, as developers ignored the signs that demand had plummeted. The results were disastrous and scarring for the real estate industry. Houston avoided over-building problems in this recession by tightening lending and home construction in the early years of the crisis. Houston didn't really have a housing bubble in the 2000s. The ratio between its median house prices and median household incomes peaked at 2.7 in 2006. Also tough regulations were imposed limiting HELOC extraction plus they have very high millage rates on RE taxes in TX. Free market capitalism in finance and housing in the other fast growing parts of the sunbelt as well as WS lead to disaster this time. Oh the irony.. Lots to be learned from the booms in the large TX cities..