Thanks to Flat and Treeless for posting about this article and bringing it to my attention…
There are some parts of the nation where the real estate industry is doing well in spite of the widespread housing slump. According to this New York Times article, some cities in North Dakota (Grand Forks and Bismarck, for instance) are doing very well.
Even mobile homes are doing well here. Charlie Swenson, a real estate agent with Avalon LLC in Bismarck, said he’s seen mobile homes values go up dramatically in the last three years.
“It’s a great time to be selling them, and it’s a great time to be buying them,” he said.
Swenson said mobile homes have sold so well in the last few years that it’s hard to keep them on the market.
I love hearing from different areas that they are doing well. I like to try and figure out why that area did well and another not in this housing boom and crash saga. I really think it came down to lenders in certain areas were overselling the Hybrid and OptionARM loans combined with a area that job growth and stability played a part in people being able to maintain the homes after the first bump in rates. I also feel over inflated prices had much to do with the crisis.
So to me it sounds like this are must also be doing well with economy issues in North Dakota! Here is to hope we hear from more and more places and learn what they did and what was done wrong! Good Job North Dakota!