Yeah, Texas! and an experiment

An article was published in the Washington Post this week regarding how Texas has been somewhat unaffected by the housing bubble. Basically, it's because we're good 'ole boys down here! Specifically, Texas has limited cash-out refinances: cash-outs and home-equity loans cannot total more than 80 percent of a home's appraised value. Additionally, there's a 12-day waiting period once an application is submitted, during which the borrower can stop everything and walk away.

These limitations are written into our state's constitution- restrictions date back to Texas' early statehood in 1845 when the state constitution banned home loans. I always knew the Lone Star State was right on the money!

When I read this article, I tweeted about it. With the new ability to embed tweets in blog posts, I wanted to try embedding that tweet into this post.

Why did Texas, of all places, escape the real estate crisis?: http://bit.ly/arL4Tjless than a minute ago via HootSuiteCreekview Realty
creekviewrealty

As I'm composing this post, the tweet appears skewed and doesn't appear to be rendering correctly, but when I publish this post, it will supposedly look correct. We shall see...

But! Check out the article regarding what Texas is doing right these days. Wouldn't be so bad if we adopted these principles nationally!