Home sales in Austin have slowed dramatically, but our economy is way healthy. Unemployment is 3.3% and job growth is almost 3% annualized. So why
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Sam, you mention the mortgage mess cutting out lower end buyers, but it's affecting the luxury market, as well. The jumbo market is as bad or worse than the sub-prime market. It's extremely hard to borrow on a luxury home right now w/ less than 20% down.
You're right, Eric. The only people uneffected are the cash buyers and they are getting more picky.