TEXAS’ MODERN-DAY LAND RUSH – part 2

In Texas builders can’t keep up, while usually when the market is strong home builders build more.  Real Estate Center Research Economist Dr. Jim Gaines told Bloomberg he projects about 100,000 single-family permits in TX this year, up 20% from a year ago, but still 30,000 short of what is needed.  Home prices rising not only state’s major metros, but also rural areas such as the West TX oil fields & in the South Texas’ Eagle Ford Shale region.  So much so, Gaines is concerned that the state will loose its reputation for being an affordable place to buy a home.  We are going the path of California & Florida if we don’t think of some way not to do it.  You can SEE IT COMING!