The Texas housing market may come up with shortages in homes. This shortage could cause soaring home prices.
“The No. 1 economic challenge for Texas going forward is if we don’t start building more homes and putting more subdivisions on the ground, the prices of housing will get so expensive that employers will no longer be able to attract workers,” Mark Dotzour, chief economist with the Real Estate Center at Texas A&M University said .
On a competing market one of Texas’ strongest attractions has been the low cost of housing in the state. The housing prices in Texas did not fall like most states during the recession.