2009 Real Estate Market in Texas Not as Bad

I sat and listened to a 2009 Texas Real Estate Market Forecast. The question is how BAD does 2009 look. The gentleman continued to reiterate that Texas and more specifically Houston does not look as negative as the rest of the country. Yes, it is not great, money is tight, new home builds are going to be at 50% of last year and the employment numbers are definitely sitting in the negative (loss) side for 2009. I am one that tends to always look at the positive in a situation. It could always be better, but thank god it is not disastrous. Our properties have not lost 30% of the value that some states like California and Florida have seen. I know we did not have the big year on year value growth that they saw in the 90's and early 00's, but boy are we glad that our values here in Texas crept up slowly year after year. As Sir Isaac Newton once said what goes up must come down. Well maybe he did not say that specificully.