Texas is doing well relative to the rest of the nation for a lot of reasons but one of the most important is that it totally avoided the housing bubble. Why? Not manipulating land markets with massive regulations seems to be a key factor.
Funny how often our disasters seem to be associated with governments trying to 'fix' markets. And the more a government manipulates the bigger the resulting crash. Of course BHO is the king of aggressive market manipulation. He says he's doing it for our own "good"..........oh goody.
CARPE DIEM has more: "'One reason that Texas did so well is that it fully escaped the “housing bubble” that did so much damage in California, Florida, Arizona, Nevada and other states (see chart above). One key factor was the state’s liberal, market oriented land use policies. This served to help keep the price of land low while profligate lending increased demand. More importantly, still sufficient new housing was built, and affordably. By contrast, places with highly restrictive land use policies (California, Florida and other places, saw prices rise to unprecedented heights), making it impossible for builders to supply sufficient new housing at affordable prices."
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