Real Estate 1984 Redux! Boom! Thud!! They wish they'd Thunk! Instead, most Sunk.
Remember when there were 600 builders in Austin? Then there were 60 left standing. 5,000 REOs waiting to go on market. 1980s Bust seems forgotten.
I was lucky, coming to Austin in 1984 with only $640 to my name I could not go broke investing in real estate but still, I tried, unknowingly before starting real estate school. Yes, I put a big cash deposit in those days of $1,500 down on a Contract for Deed to buy a US Army barracks a man moved into a field that was really a giant drainage ditch, dug…
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