Housing

A lot has been said in the media lately about the "housing crisis" or "mortgage meltdown." Some of the talk is legitimate, and some of it is just talking-head punditry. For some reason I feel compelled to offer my two cents.

When Anya and I purchased our townhouse in March & April, our unit was one of 3 remaining of 8 units in our small townhouse development. The rest of the units were quickly sold. Construction continued on 16 additional units in our development to completely cover the parcel of land - a former oversize, decrepit half-way house (or something similar).

The 16 new units went on the market on Memorial Day weekend. One month on, 9 of the 16 units have been purchased. From what I can tell, they were all sold at or near the original asking price.

Obviously, I don't live in Las Vegas, Miami, or LA - where a serious adjustment is probably occurring. But from where I sit, it doesn't appear that the housing market is doing as badly as we're being led to believe.