EVEN in the WORST of TIMES, PROPERTIES SELL
A perfect example of this Galveston after Hurricane Ike. Galveston had a 160% increase. Its difficult to imagine that there were any sales immediately after the hurricane, but properties do
change hands even in the worst of circumstances. October sales in Galveston from 2004 through 2009 were 93, 68, 88, 85, 25 and 65. The 65 sales in 2009 is not too bad considering the recession
and the rebuilding. Research economist Dr. Jim Gaines at the Real Estate Center at Texas A&M
summed it up with one word: Ike.
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