In a meeting with a major North Texas developer this week, he said to me: “I do not like Rick Perry all that much, and I do not think he is very smart. However, he is sending out a great message about Texas and we are getting all sorts of out-of-state interest in our properties. So do I support him for the White House? Heck yes!”
When it comes to politics, people often vote with their checkbooks or, in the case of this election, negative wallet biopsy. Make that negative home equity biopsy. And like Bill Griffin says, there are so many rules and regs that haven’t even been written yet, no one knows what’s coming down the pike! Anyhoo, I was on NBC’s NonStop Nightly last night with precious Jane McGarry talking real estate, Case Shiller and CoreLogic, and how Perry’s campaign is putting the Texas economy AND real estate in the spotlight. People in other states are wondering what we are doing right that we have jobs and 30% of our homeowners are not underwater on their mortgages. Truth is, we have a lot less regulation that most states and we limit how much Texas consumers can borrow against their homestead. In fact, it wasn’t too long ago that Texas homeowners could not borrow one dime against their homestead!
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