The Northwest miracle
People are still flowing into Northwest Arkansas, but there's evidence of some cooling of the boom, if home sales are a measure. Home sales in Benton and Washington Counties for the first nine months of the year are off more than 9 percent from last year. Meanwhile, sales are up 30 percent in Faulkner County and 13 percent in Saline County.
Comments
It's the economy ...
Posted by: widj![[TypeKey Profile Page]](http://www.arktimes.com/blogs/arkansasblog/nav-commenters.gif)
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September 30, 2006 02:37 PM
1,977 sold in Washington County for 8 mo.!
Some people must be biting the bullet. A few years ago there were more realtors than that in Washington County.
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I think ex Fed Res. Chairman Greenspan addressed this in 2K when he remarked that many new home sales and apartment sales were for spectulation only. Buyers were using equity in their existing homes to buy other real estate and by end of 2005 all the excess homeowners equity would be borrowed away. Of course, many people borrowed their excess equity just to live. Now what?
Expect further declines in real estate market thru next year.
Historically when gov runs big deficits as Bush is doing it takes funds away from other markets. Cheney-Bush record deficits are no different.
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Posted by: Lwood![[TypeKey Profile Page]](http://www.arktimes.com/blogs/arkansasblog/nav-commenters.gif)
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September 30, 2006 04:06 PM