Texas Real Estate Center Offers Bright Outlook

Though national analysts are predictig a 11.5 decline in housing this year and a further decline of 11.7 in 2007 the housing market looks sunny and bright for Texas.  Over two million more people have made Texas their home this decade, and it's not expected to slow anytime soon.  According to Mark Doutzer, the Texas Real Estate Center's Chief Economist, speculative money (ie investors) have made teir way to Texas, but in lesser quanitites than Florida, Nevade and California experienced in the past.  Dotzour goes on to say that there are two possible problems with the Texas market in the future, one being large-volume builders hoping to make up for lost volume elsewhere glutting the Texas real estate market and the other would be a 2007 national recession.  Doutzer remains optimistic though stating that "even though the United States could have a recession, it's highly possible that Texas won't participate in it.  The Texas economy is not overheated in the housing market, and we don't have a lot of ailing auto plants in our state."