" wrote in
:

On Apr 26, 10:01*am, Kurt Ullman wrote:
In article , Peter
wrote:





On 4/26/2012 8:24 AM, Han wrote:
Gordon *wrote in
:

Check history a little further back and you'll find where the
financial institutions were forced (regulated) to provide sub
prime mortgages. *They were not inept - congress was for forcing
them.

Apparently in some states regulation was good enough so that the
hous
ing
collapse wasn't too bad there. *Texas is an example. *Where was i
t really
bad? *Las Vegas and FL, etc, where speculation/flipping etc were
re
ally
rampant. *There really, really is enough
guilt/complicity/criminal
mischief
to give almost everyone and almost every institution a good
helping.

You're confusing co-occurrence with causality. *Texas has energy
resources (natural gas and oil) which kept their overall economy
and specifically their housing market relatively healthy over the
past 4 years even when many of their other economic sectors
declined a similar amount to the rest of the county. *Nothing to do
with regulation. *
It's
the same reason Russia was able to stay financially afloat with far
les
s
pain than western Europe. *By your analysis, you would expect
Russia
to
be far less regulated than western Europe. *In fact, it is much
more regulated.

Texas Foreclosures Listings (Texas State Foreclosure Laws)

Foreclosures in Texas increased in 2009 over the prior year. There
was a total of 100,045 properties with foreclosure filings. That
works out to a rate of one filing for every 94 households, which
compares to the United States average of 45, and is a little more
than one percent of the state's housing units.

So, their foreclosures were almost twice the national average, but
they weren't doing all that bad?


Based on the numbers you give above, isn't the
TX rate HALF the national rate?

That seems right to me, trader. I have no time to search for the
reference now (family emergency), but I distinctly recall having seen a
proud Texan quote what I said.

--
Best regards
Han
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