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Willisms

« Trivia Tidbit of the Day: Part 843 -- America's Recession Not Created Equal. | WILLisms.com | Sunday Heidi Weimaraner Update: 4+ Years Old. »

Trivia Tidbit of the Day: Part 844 -- America's Economy Would Be Far Worse Without Texas.

2000-2010 Job Growth, Or Lack Thereof-- Plus Foreclosures-

Since 2000, America has lost a lot of private-sector jobs. A lot of them. Texas has gained a ton of private-sector jobs over the same period. Gobs.

Imagine if Texas wasn't around or was its own-- ahem-- country. Think about how much worse our national economic picture would be right now:

texasdomination.gif

Indeed, new foreclosure numbers are out, and they aren't pretty (154 out of 206 metropolitan areas with at least 200,000 residents posted an annual increase in foreclosure activity between January and June), but the Texas mortgage foreclosure rate is about half what it is nationally.

In Texas, one in every 788 homes faces foreclosure, whereas that number is 1 in 194 for California, 1 in 265 in Michigan, 1 in 358 in Illinois, and 1 in 411 in the U.S. as a whole.

CNN/Money notes:

Still, the report found that there are some remarkably untroubled markets, many of them in the Northeast, Midwest and Texas, where home prices never really bubbled during the boom and have not fallen very far during the bust.

The Atlantic has more data, showing that many Texas cities have among the lowest foreclosure rates in the nation.

Jobs. Foreclosures. Migration. GDP growth. Basically every indicator shows strength in Texas and weakness in the most liberal states such as California.

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Previous Trivia Tidbit: America's Recession Not Created Equal.

Posted by Will Franklin · 30 July 2010 08:48 AM

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