When compared to the rest of the nation,the real estate collapse in Texas was
A) more severe.
B) less severe.
C) remedied by low property tax rates.
D) about the same as the national trend.

Question

Quizplus · Accepted Answer

The real estate collapse in Texas was less severe when compared to the rest of the nation. While other states experienced foreclosure rates of 2-3%, Texas had a much lower foreclosure rate of only 0.5%. Furthermore, Texas had stricter lending regulations in place before the collapse, which helped to prevent a housing bubble from forming. Additionally, the state's strong job market and population growth helped to keep demand for housing high, preventing a collapse in prices. The property tax rates did not necessarily have a direct impact on the severity of the collapse.

When Compared to the Rest of the Nation,the Real Estate