North Texas Will Be Spared A "Meltdown": Econ.
The Dallas News reports that Texas doesn't have a bubble problem. "Texans aren't likely to get trapped in a home price bubble. That upbeat assessment comes from a company that ranked Austin and Dallas as the No. 1 and 2 'high-risk' cities for home price declines two years ago."
"'Your home price appreciation has been pretty weak' compared with the rest of the country, said economist Marco Van Akkeren of PMI Mortgage Insurance Co. That's why Dallas is now 'toward the bottom of our list' in risk."
When readers comment on this blog they tell tales of oversupply, especially with condos. The most significant aspect of the general worrying is that, in todays' wacky RE market, nobody knows what houses are worth anymore. The theme is, we're not as bad as California.
"Most North Texas homebuyers have ignored the bugaboo talk about bubbles, said Sheila Rice of Virginia Cook Realtors. 'They didn't see any reason why it should be true. The price per square foot even in our most high-priced areas does not approach what it is on the coasts.'"