Standard & Poor says housing prices declined 12.7 percent in February in the nation’s top 20 markets. Results were even worse in the nation’s top 10 markets, with a 13.6 percent decline in February from one year previous.
The reality of the housing slump will only bring into sharper relief House and Senate attempts to deal with the situation.
And, here in Texas, despite brags that the problem isn’t that bad here, it’s bad enough due to the petard of another Texas brag — a heavy reliance on property taxes. Metro Dallas declined 4 percent from a year ago.
The Preznit will be speaking shortly. Doubtful he’ll have any real ideas on the housing issue, but comment will come on his speech.
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