“. . . You could have bought a 3,000 sqft home in the burbs for $250,000 and put the $500,000 you saved in an investment that has a return that is better than 3%. Not to mention the money you had to spend putting a couple of kids through private school. The idea that residential real estate is a good investment is not supported by the data during a time of record low interest rates. Once the fed starts to raise rates again you are going to have trouble selling those homes that sit on expensive land for what you have in them. The only people that made off like bandits in the last decade in Houston were those who bought a single family home on a 7,000 sqft lot and replaced it with several single family townhomes.” [Dave Swank, commenting on Shops Replacing San Jacinto Stone, Just North of the South-of-the-Heights Walmart]
About SwamplotSwamplot covers real estate, home design and renovation, architecture, and the landscape of Houston, Texas. Swamplot did not flood during Allison — or Ike! Honest!
Send us a tip
Subscribe to Swamplot