TX EMPLOYMENT GOOD + STEMMING FORECLOSURES
The TX economy continues to create more jobs albeit at decreasing rates while the nation’s
labor market is losing jobs. TX nonfarm employment increased 2.3%, but 0.1 decrease in U. S.
Higher oil prices, has driven the mining industry, followed by professional & business services,
leisure & hospitality, construction, education & health services industries. The complete
economic review is available at the TX A&M Real Estate Center’s website.
The U. S. House of Representatives has passed legislation that National Assoc. of Realtors
say will stabilize the housing market & stem foreclosures. It is called The Housing and Economic Recovery Act of 2008 - modernized the FHA by simplifying the procedure & making
these mortgages more available to thousands of families refinancing existing mortgages & keep
their homes. Hopefully those who can afford to own a home & want to do so will have that
opportunity.