Housing sales have soared in Texas, and some may wonder how it compares other real estate booms and bubbles of the past, including the one in California more than a decade ago that led to the 2008 financial crisis.
Luis Torres, a research economist at Texas A&M University’s Texas Real Estate Research Center, told Texas Standard there are a few distinctions between the current Texas boom and what happened in California in the mid-2000s.
First of all, mortgage lenders’ practices were unique during the California real estate bubble, and they significantly contributed to the credit crisis that destabilized the financial system.
With Dallas-area home prices soaring higher, buyers are growing more frustrated
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Texas Home Sales Surge In A Booming Housing Market
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