TEXAS (Dallas Business Journal) – The Lone Star State has brought in more than $6.5 billion of the $787 billion stimulus package so far, according to the nonprofit organization ProPublica.
Texas ranked 48th on a per-capita basis, spending an average of $269.30 per person. The federal government has spent an average of about $216 per person after allocating more than $121 billion of the stimulus funds.
Three state agencies (the Health and Human Services Commission, Texas Education Agency and the Texas Workforce Commission) have dominated spending of the nearly $3 billion already appropriated by the state.
Harris County leads the state in total spending with $569.5 million. Tarrant and Dallas counties ranked second and third, respectively.
Friday, September 25, 2009
Wednesday, September 23, 2009
RISE IN DFW HOME EQUITY PREDICTED
DALLAS-FORT WORTH (Dallas Morning News) – Prospects are improving for rising home equity in the area, according to a report from the Center for Economic and Policy Research and the National Low Income Housing Coalition.
DFW homeowners could have an average $87,110 in home equity by 2013. That is a $6,000 increase from a similar estimate made in October.
The report's equity outlook is based on purchases of homes priced at 75 percent of the median price. Researchers suggest that positive home equity will be seen in all of Texas' major home markets during the next few years.
Area homeownership and rental costs were also slightly higher than the October estimates. There is now almost no difference in the two costs within the DFW area.
DFW homeowners could have an average $87,110 in home equity by 2013. That is a $6,000 increase from a similar estimate made in October.
The report's equity outlook is based on purchases of homes priced at 75 percent of the median price. Researchers suggest that positive home equity will be seen in all of Texas' major home markets during the next few years.
Area homeownership and rental costs were also slightly higher than the October estimates. There is now almost no difference in the two costs within the DFW area.
Monday, September 21, 2009
CENTEX, PULTE MERGER APPROVED
DALLAS (Dallas Business Journal) – Shareholders for homebuilders Centex Corp. and Pulte Homes Inc. have approved a merger of the two companies.
Michigan-based Pulte will acquire Dallas-based Centex, according to a source who attended the shareholders' vote on Tuesday. Pulte shareholders will own 68 percent of the merged company; Centex shareholders will own 32 percent.
According to research done by the Dallas Business Journal, Centex was the largest homebuilder in North Texas in 2007, with 2,170 housing starts. The company dropped to third last year, with 881 housing starts.
Pulte Homes of Texas ranked 12th in the Dallas–Fort Worth area in 2007, with 664 North Texas housing starts. That number fell to 495 in 2008, putting it at No. 11 that year.
Michigan-based Pulte will acquire Dallas-based Centex, according to a source who attended the shareholders' vote on Tuesday. Pulte shareholders will own 68 percent of the merged company; Centex shareholders will own 32 percent.
According to research done by the Dallas Business Journal, Centex was the largest homebuilder in North Texas in 2007, with 2,170 housing starts. The company dropped to third last year, with 881 housing starts.
Pulte Homes of Texas ranked 12th in the Dallas–Fort Worth area in 2007, with 664 North Texas housing starts. That number fell to 495 in 2008, putting it at No. 11 that year.
Friday, September 18, 2009
EVEN JOB GROWTH BIGGER IN TEXAS
Six Texas counties have made CNNMoney.com's list of the nation's top 25 best counties for job growth from 2000 to 2008. At number two, Rockwall County led Texas with 84.9 percent job growth for the eight-year period.
2. Rockwall at 84.9%
6. Fort Bend at 61.3%
14. Williamson at 53.2%
15. Collin at 52.7%
22. Hidalgo at 50.6%
24. Webb at 49.2%
Arizona's Pinal County posted the nation's highest job growth rate at 95.9 percent.
2. Rockwall at 84.9%
6. Fort Bend at 61.3%
14. Williamson at 53.2%
15. Collin at 52.7%
22. Hidalgo at 50.6%
24. Webb at 49.2%
Arizona's Pinal County posted the nation's highest job growth rate at 95.9 percent.
Wednesday, September 16, 2009
Affordability is Here Again!
According to the latest NAHB/Wells Fargo Housing Opportunity Index (HOI) released show nationwide housing affordability during the second quarter of 2009 continued to hover near its highest level since the series began 18 years ago.
Here are additional excerpts from the HOI:
"The increase in affordability, along with the $8,000 federal tax credit for home buyers, is stimulating demand, particularly among young, first-time buyers," said NAHB Chairman Joe Robson, a home builder from Tulsa, Okla. "But to keep the recent upturn in home sales going into next year, Congress will need to extend the tax credit for another year and make it available to all buyers in an effort to encourage activity in the trade-up market."
Here are additional excerpts from the HOI:
"The increase in affordability, along with the $8,000 federal tax credit for home buyers, is stimulating demand, particularly among young, first-time buyers," said NAHB Chairman Joe Robson, a home builder from Tulsa, Okla. "But to keep the recent upturn in home sales going into next year, Congress will need to extend the tax credit for another year and make it available to all buyers in an effort to encourage activity in the trade-up market."
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