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Is Texas Leading the Downturnaround?

Six metropolitan areas in Texas are seeing the recession slow, say the brains over at Dismal Scientist.  So if you live in Wichita Falls, Houston, McAllen, Fort Worth, Austin, San Angelo or San Antonio, it’s time to—well, we’re not sure what, but you’ll think of something.

According to the study, which looks at regions’ economies over the past six months, Texas has more cities that are in “moderating recession” than any other state. Almost everyone else is still in the dumps. (But not you, Portland-South Portland-Biddeford, Maine!)

Why Texas? The energy industry, for one. Plus the lack of a housing bubble. The Brookings Institution, which also has been tracking the recession’s effect on local areas, says Texas took less of a hit in the first place. “A $175,000 house purchased in Houston in 2000 was valued at just $200,000 by 2006. That meant less speculative lending, and less fallout from the mortgage crisis.” In San Antonio, jobs are down less than a percentage point and home prices are up.

Or, you could go with the rah-rah explanation from an Everest College survey: “The resounding majority of Texans still feel the indomitable spirit that inspired the Alamo.”

Tags: downturnaround, economy, recession, recovery, Texas