OKC - where the housing boom goes on

[kiko456]

Bust? What housing bust? - Jun. 26, 2007

Just wondering what some opinions are on this article. How long can OKC maintain this upward trend while the coastal cities seem to be in decline?

[Pete]

OKC's economy has always been somewhat counter-cyclical to the rest of the country. When oil & gas do well, OK benefits and everyone else suffers.

Also, OKC (and all of OK) really trailed the other markets in appreciate during the last 15 years and when I left there in '89, things were incredibly low. It's still one of the cheapest areas to buy a home in the country, despite the increases.

12% only looks good because the rest of the country is correcting after record run-ups. I can tell you that even with things getting soft in California, my house has doubled in price in the last 5 years... And it had gone up significantly for the few years before I bought it.