Texas Economy Finds Silver Lining

The nation may be hurting economically but that doesn't transfer over to the Lone Star State in the same ways. Terry Clower, associate director of the University of North Texas Center for Economic Development and Research spoke at the Lake Cities Chamber of Commerce meeting on Monday, Nov. 11, about how resilient the Texas economy can be. "Texas, I don't think we're going to fall into a recession," said Clower. "I think what we're going to see is continued growth." The Center for Economic Development and Research at UNT researches and analyzes public policy and the economy. The Center also provides forecasting and strategic planning for businesses, governments and non-profit agencies with an interest in economic development. More

Corpus Christi has Reasons to be Thankful

Thanksgiving . . . friends, family and community. Are you thankful? We really have everything here in Corpus Christi. Think about it: Great climate, great people and, if you're paying attention, a decent economy. There's hope all around us. Here's real-time thought to tell your negative buddies. More than a week ago, the downtown Rotary Club and the Corpus Christi Regional Economic Development Corporation held a joint meeting and listened to an interesting talk by Bill Fruth, President, POLICOM Corp., on the dynamics of the local economy. More

Will Houston Miss the Housing Bust?

Tim Surratt is a realtor who’s been selling homes in Houston to buyers around the country. "The market in Houston is doing well in certain pockets," said Surratt. But for the first time in years, the bad pockets are outnumbering the good ones. The Houston Association of Realtors said that the average home that was worth $197,000 in October 2007, sold for $194,000 in October 2008. That's a drop of over $3,000 or 1.6 percent. The market drop is worse in some of the suburbs, where new homes outnumber buyers. But the chief economist for the National Association of Realtors said that in general, the 'good' in Houston’s home market outweighs the 'bad.' More

Davis Prepares for New Role in Texas Legislature

For newly elected State Sen. Wendy Davis, a tough background and concerns about issues in her community led her to a career in public service. Davis on Nov. 4 won the District 10 election against incumbent Kim Brimer, who has a 20-year state legislative tenure, by about 7,000 votes of the about 300,000 votes cast. Prior to running for the District 10 seat, Davis served as a Fort Worth City Council member representing District 9 from 1999 through 2008. She credits the circumstances surrounding her upbringing to her passion for public service. More

Five on the Outs in Cabinet Shuffle

One Democratic operative suggests keeping track of Barack Obama’s cabinet selections with a March Madness-type tournament chart. While no official announcements have been made, a controlled series of leaks have given a good sense of who's still in contention, and which big names have been bounced from the bracket. More

Comptroller’s Publication to Highlight Area Economy

While national leaders are wrestling with the best approach for assisting a slumping domestic auto industry area leaders learned this week that optimism about Brown County’s economy is not limited to our area. The state comptroller’s office agrees that Brownwood and Brown County are bucking national trends and even thriving. More

Why Your Next Water Heater May be Tankless

"We have installed tankless water heaters since 1995. Our tests show they are an excellent product," says Steve Brown, president of Carl Franklin Homes. Mr. Brown says the Dallas company rarely installs traditional water heaters in new houses. He also says adding tankless heaters to older homes is becoming more common. More

Introducing the First Nationwide Program to 'Green' Foreclosed Properties

Viridian Asset Management, LLC (http://www.viridianasset.com) today announced the national launch of its groundbreaking BankonGreen(TM) program designed to bring "green," energy-efficient rehabilitation to properties owned by banks and financial institutions. BankonGreen(TM) is a one-of-a-kind program that links and streamlines traditional REO asset management services with cost effective, tangible energy efficiency improvements. Viridian is the first to introduce this proprietary model, delivering certified green improvements under nationally recognized standards that allow banks to reduce their foreclosure losses while enhancing Community Reinvestment Act (CRA) and social responsibility initiatives. More

Home Sales Fall 25 Percent, but Median Price Rises

Defying the national trend, the median price of existing homes in Central Texas rose last month by 7 percent, new figures show. But the U.S. housing and economic downturn still has the region in its grip, as sales fell 25 percent, the steepest monthly decline since May 1997, according to the Austin Board of Realtors. Experts caution against making too much of the median price increase last month to $192,520. And some say sales will continue to decline through much of 2009 and that the median price could dip soon - although not by much or for very long. More

Local Economists: Texas OK for Now

The U.S. economy has been in a recession since the summer, but Texas is not there yet because of a well-diversified economy and growing population, local economists said. "Texas, on net as far as the overall economy, is kind of neutral," said Harvey Rosenblum, director of research for the Federal Reserve Bank of Dallas. "It’s going to be much more resilient than a lot of places." Thirty-three states have had a net job decline since the beginning of the year, but Texas led those 17 states that did not, he said. More

New Subdivision Soon To Come In Van Horn

A housing crunch in Van Horn prompts the City Council to act. On Thursday, NewsWest 9 traveled to far West Texas to get a glimpse of what they're working on and why officals say it's critical to build soon. "Housing has always been a problem in Van Horn to the point that the school district even built some of its own housing, so that they would have places to house some of the teachers that moved into town," City Administrator Rebecca Brewster explained. More

San Antonio Commercial Market Bucking Trends

Vacancies in the commercial real estate market likely will rise and land prices will continue to fall in San Antonio. But these shake-ups aren’t expected to cause a complete meltdown in South Texas. “I think we’re really lucky to be here in South Texas,” said Kimberly Gatley, senior vice president and director of research for NAI REOC Partners, a San Antonio real estate company. But “nobody can avoid that ripple effect” of a larger economic slowdown, she said. More

Central Texas Foreclosures Up Almost 27 Percent

Property foreclosure listings in Central Texas this year rose to levels that echo the real estate crash of the 1980s, enough to make some real estate professionals say they are concerned but not yet profoundly worried. Combined, Travis, Hays, Williamson and Bastrop counties have 9,008 foreclosure postings for the year, according to Foreclosure Listing Service Inc. of Addison. "Things could be worse, absolutely," said George Roddy, chief executive of the tracking service. That's because elevated foreclosure rates in Texas have yet to create a sizable erosion in home values, as they did in the 1980s real estate bust and as they have now in formerly overheated markets such as California, Florida and Nevada. More

Bob Perry Top Donor to Speaker Candidates

Speaker Tom Craddick gained power and has held onto it (so far) with strong financial support from the business community, including Houston homebuilder Bob Perry. Perry alone has been a major pro-Craddick force, giving hundreds of thousands of dollars to the Republican speaker and the election campaigns of legislative candidates backing him. The homebuilder and his business colleagues have been rewarded with additional protections against consumer lawsuits and a less-than-onerous regulatory climate. But what happens to Bob Perry's money if Craddick is unseated? More