Where's waterboy? Throw the housing market a life preserve....blast me again! I got my water wings on!
Home foreclosures jump in state ...
While national numbers improved in February, troubled Oklahoma mortgages rose 45 percent
http://www.tulsaworld.com/business/article.aspx?subjectID=32&articleID=20080313_5_E1_hWhil04471
YIKES!
Not really all that scary yet...
If you RTFA, if later states the following:
quote:
Still, Oklahoma's foreclosure rate remains well below the national rate of one per every 557 households, and it increased less than the national average over the last 12 months.
Tulsa didn't boom in the bubble, so it won't collapse in the bust. I wouldn't worry too much about the housing market collapsing in Tulsa.
quote:
Originally posted by YoungTulsan
Tulsa didn't boom in the bubble, so it won't collapse in the bust. I wouldn't worry too much about the housing market collapsing in Tulsa.
Residential development is stronger than it's ever been. At least for us, so the banks, the builders and the investors have confidence.
I've also got a couple of broker friends that are selling strong. Must be all those homes in the pan handle [:D].
quote:
Originally posted by FOTD
Where's waterboy? Throw the housing market a life preserve....blast me again! I got my water wings on!
Home foreclosures jump in state ...
While national numbers improved in February, troubled Oklahoma mortgages rose 45 percent
http://www.tulsaworld.com/business/article.aspx?subjectID=32&articleID=20080313_5_E1_hWhil04471
YIKES!
I'm here. Therefore I post...
I don't feel as confident as some others about Tulsa's real estate outlook. We won't get hit as hard but we didn't grow as much either. Most of our building out South is in higher income brackets, the folks least affected by economic downturns. But can the industry tolerate a diet of cake and Bordeaux? In my estimation its not whether the real estate business is sick, its how sick is the economy. Oil money is cushioning the shock in our state but nothing good lasts forever. And I don't pay attention to the reported figures much. They're not timely.
Just watch the parking lots of real estate companies and new furniture dealers.
I've always judged the local economy based upon the amount of hardware parked in the Allis-Chalmers lot at 41st & Memorial.
The more equipment there, the better. Which is just opposite of the way one might think.