The key to maintaining real estate prices is avoiding foreclosures. Once foreclosures hit a neighborhood, the supply of homes for sale increases, the price decreases, and everyone gets very unhappy.
So far, we have avoided the foreclosures that are swamping much of the rest of the country, as well as parts of Dallas County. Most of the foreclosures have been in outlying parts of the county, where there was enough vacant land to throw up subdivisions. Subdivisions, for several reasons, attract foreclosures the way mobile homes attract tornadoes.
