Not long ago I met a realtor friend who sells big ticket houses. I asked if homes were selling now that interest rates had come down.
Business is very good.
We've had more people looking for million dollar properties than anytime in years. It's almost like back in The Boom Times and that scares me. Dallas is one of them. Those prices bespoke an optimism many lived to regret. The relative price has been falling ever since, dropping below the national median by 1990 and reaching 85, a 15 percent discount to the national median by 1995.