Texas has 672,000 FHA loans – California is 2nd at 392,000.
The average L-T-V in Texas is 70%.
Home values have dropped just 4.6% here.
The foreclosure rate of 1.82% is 7th lowest. New York is 4.74%, California’s is 4.42%, and Florida is 13.68%.
The subprime percentage here is just 10.6%.
The homestead law that we complained about in the 80’s saved us a lot of California like turmoil.
Combine all this with the improving economy, relatively healthy state government and low state tax rates and you have a recipe for some good years in the future.
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