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Old 08-02-2010, 09:25 AM
 
Location: OUTTA SIGHT!
3,018 posts, read 3,567,892 times
Reputation: 1899

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Quote:
SAN ANTONIO, TX -- No state is thriving in the wake of the Great Recession. But compared to the rest of the country, Texas is experiencing something like an economic boom.

Pick your category, and Texas dominates. Three of the top five most resilient major metro areas for employment are in Texas: McAllen at one, Austin at three, and San Antonio at five. El Paso and Houston make the top 15. How about state debt? Texas ranks fourth in the country. Texas cities claimed four of the top five spots in the Milken Institute's Best Performing Cities Index, four of the top ten of Forbes' "Cities Where the Recession is Easing," and another four spots in last year's Top Ten in Homebuilding (admittedly, a bit like winning a Warmest Ice Cube contest).

Talk to folks in Texas about their state's good fortune, and they'll also point out that the Lone Star State would be the 15th largest economy in the world if it were really alone, and that 64 Fortune 500 companies call Texas home, more than any other state. For relish: more Americans are moving into Texas than any other state, and CNBC recently named it Top State for Business for the second time in three years....
(snip)

How Texas Is Dominating the Recession - Business - The Atlantic
...
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Old 08-02-2010, 01:13 PM
 
10,130 posts, read 19,882,004 times
Reputation: 5815
From the above article:

Quote:
2. Stable Real Estate
Real estate executives and economists struggled to find one reason why the Texas economy largely avoided the real estate boom and bust, but a few theories emerged. First, San Antonio Mayor Julian Castro suggested that a reliance on property taxes in Texas (compared to California) might have dulled real estate appreciation. Second, the banks that survived the Savings and Loan crisis in the 1980s have mostly held onto conservative and un-exotic lending practices. Third, land and utilities are generally cheaper throughout Texas, which holds down the cost of the living. Fourth, besides Dallas, Texas' major cities have diversified away from the kind of real estate and financial services addiction that plagued CaliFlAriVada (that's CA, FL, AZ, NV), where the recession has been the most severe.
What does the author mean by "besides Dallas"? Did big D they have some real estate bust I don't know about?
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Old 08-02-2010, 01:16 PM
 
Location: Up on the moon laughing down on you
18,495 posts, read 32,959,536 times
Reputation: 7752
Go Texas!!!!!!!!!!
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Old 08-02-2010, 01:42 PM
 
Location: Abilene, Texas
8,746 posts, read 9,033,859 times
Reputation: 55906
Quote:
Originally Posted by atxcio View Post
From the above article:



What does the author mean by "besides Dallas"? Did big D they have some real estate bust I don't know about?
I was wondering about that too. The Dallas real estate market seems to be as stable as any other real estate markets here in Texas.

Anyway, it was an interesting article and great news for our state!
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