Surprisingly TX seems to be having as much problems with its budget as California has.
There is constant talk of cuts and defects etc…
The little I know of the housing market in TX is that its not so great and if you have a lot of land you are not farming or making use of with the house the Taxes can be quite high.
The Housing market in Austin in particular seems to go through booms and busts more so than the rest of the state.
