Thursday, October 15, 2009 6:41:02 PM
I was around during the oil crises in Houston in the '80s. Many thousand of foreclosures, I know this is hard for people to believe, but it was worse than the current national crises.
It started in 1985 and the bottom was in 1986 and it wasn't until 1988 that the supply of foreclosures dried up and they started building houses at a good clip again. So if you figure 2009 is the low point then I figure that 2011 homebuilding will be back to normal.
Of course the stock prices of the homebuilders should continue to increase from this point as people realize that the bottom is in.
Recent BZH News
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