RE: NEW HOME SALES SOAR

Candy: I read that same report. And while I agree with most pundits that keep telling us that the Dallas market will not feel the brunt of any potential bubble, the report was not nearly as rosy as you make it out to be. Sure, new home sales are up, but prices dropped drastically. Economist Bob Brusca was quoted in the article as saying the rise in sales is due to builders dropping prices to move inventory–he even equated it to a zombie’s body’s final twitching.

Now the question I have for you, Candy, is: What are your thoughts about the Oaklawn area’s 35-percent drop in selling prices for the first quarter of 2006 (find the numbers here)? Why is it happening? Will it keep happening? Enquiring minds want to know.