There's no depression in Central Texas (Killeen Daily Herald Excerpt)

While the National Bureau of Economic Research declared the U.S. to be in a recession since December 2007, some local bankers and Central Texas economic leaders say the greater Killeen area is not.

"We are fortunate to live in Central Texas and even more fortunate to have Fort Hood here," according to Jerry Conner, Copperas Cove Economic Development Cooperation executive director.

A recession is typically caused by a lack of consumer confidence resulting in a lack of spending, said Keith Maxwell, Extraco Bank Regional president. While Central Texas is seeing a softening in the housing market and retail, it is not because of a lack of confidence, Maxwell said. With Fort Hood as an economic engine, there are people, contractors and soldiers, who are not affected by worrying about payroll, he said.

Another reason the Central Texas economy is remaining strong is because Texas never got involved in some of the causes of the recession, such as the housing bubble on the East and West Coast.

"We are not generating the same sales volumes as we were last year or the year before, but at the same time our economy is continuing to move forward," Maxwell said. "It is a slowing of the growth."

Bobby Hoxworth, First National Bank Texas president, said there are some factors of the recession affecting Central Texas. The economy tends to grow and contract and consumer confidence and financial well being will start to be restored.

"I think I would rather be in Texas, and especially Central Texas, than any place in the U.S. right now, to face the recession," Hoxworth said. "I think we are well equipped to continue to grow as a community and a state.
[Killeen Daily Herald] 

Dear Blogger's I found this article and Wanted to Share Some Good News for a Change.
Tired of the Bad National Publicity, and like always, National newscasters fail to mention to check with your local area or state official data, since real estate is still Local.  We are very fortnutate here in Central Texas, and I am so glad to share this great news with you!
I am not the writer of the article, is an excerpt of the Killeen Daily Herald.