Rapidly climbing foreclosed homes count nationwide has everyone in a tizzy. Texas is not far behind when the talk is about foreclosures across the state. The housing market woes in Texas and across the country, most experts believe, are going to continue for some more time. Those Americans who have managed to survive the deluge of Texas foreclosure homes can feel good about finding themselves in a favorable market position. Not only can they find some great bank foreclosures, but they’ll also have to pay some very low rates to invest in them.
Adding to the woes of the Texas property market are the increasing bad credit mortgage rates and a lackluster real estate market not just in Texas State but across the nation, hinting at a possible bust. With several regional property markets across the US feeling the heat of the housing correction, a slow down in the economy seems to inevitable. Expensive and overpriced realty rates, over construction, and growing foreclosures by state counts, Texas is not the only state reeling under pressure and ready to burst!
Huston in Texas is ailing from exceptionally high forclosure rate as compared with some other markets in Texas, despite the fact that the market is witnessing only some moderate decline as compared with California State. Fortunately, the residential property prices in Houston are quite stable and the home loan rates in the State low. This has promoted new construction activity at reasonable rates inside the metropolitan area
However, market experts’ reason out that with slowdown in Houston’s economy, the residential market is also likely to cool off, but will still be at an advantage compared to the national average.
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