It's a great day to be in Real Estate in Texas!!! Not only has the market been steady for a number of years without any blips in the radar, but Texas has kept the pricing of it's homes consistant for many years! What recession? Here in Texas, everything's bigger... just not the price of great home you truely desire. Read this article from Marketwatch.com , and learn just how well the Lone Star State is doing in Real Estate.
Take a look at this chart from Carpe Diem...
You can see just how much Texas (the light blue line) was not affected by the recession. No Bubble here!
MarketWatch's Kurt Brouwer writes "Apparently, there is at least one exception and that is the recent and unlamented real estate bubble that is rocking states from Florida to California. Somehow, Texas managed to avoid the huge upswing in prices."
This real estate success in Texas is largely due to less restrictive land use regulations when compared to other states. Brouwer states, "Unlike Texas, all of the markets with steep house price escalation had more restrictive land use regulations. This association between more restrictive use regulation and higher house prices has been noted by a wide range economists, from left-leaning Nobel Laureate Paul Krugman to the conservative Hoover Institution’s Thomas Sowell."
It's a perfect time as any to move to or buy a home in Texas!
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