All real estate is local.....maybe even more local than just one city, but I expect prices in most parts of Texas to remain fairly stable. There may be a slight dip as we clear at the foreclosures, but I don't think this dip will be significant. I think the biggest wrench in the engine is if Congress decides to enact some kind of immigration legislation and it is enforced. Lots of immigrants own property and may not want to do so if their jobs are at risk. At this point I think people have figured out that this is nearly impossible on many different fronts, but with election politics in the air, who knows what the dumbest congressperson on the block will do.
Real Estate prices will remain fairly stable in this area of Brownsville & RGV. The building of more Hospitals & Clinics, The University expanding, Home Land Security bringing more Border Patrol Agents to this area to secure our borders, Our Baby boomers. We have a large amount of families relocating to this area. The Rio Grande Valley didn't get affected as much as other places in the United States by forclosures.