Reply #30: I'm aware of a house just purchased in west Houston

[Neil Lisst]

The prior owner had almost $800 grand in the home, and was relocated by the big oil company he worked for, so they bought it, as they often do in such circumstances. It sat on the market for 18 months before selling for barely $600K.

I'm aware of a second home sale in another part of greater Houston in which the owner took a $100K hit in the sale of his home for a little over half a million.

These are two anectodal items which merely demonstrate that the high end homes in the Houston area are not doing well. That's usually a harbinger.