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Houston, Thank The Real-Estate Gods That You Don't Live In Florida

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You want some good economic news?

Hmmm. Well, the best we can do is that the Houston area has officially been declared the third-least-risky real-estate market in the country.

The PMI Group annually issues a list of markets that are most at risk of seeing home prices fall, and the 2008 report came out this afternoon.

It sucked if you live in Florida, where four of the five riskiest markets were. Cities like Ft. Lauderdale, Miami and Orlando all have a better than 99 percent chance of seeing home values decrease this year, PMI reported.

The news was better in Texas.

Three Texas markets -- Fort Worth/Arlington, Dallas/Irving/Plano and the Houston area -- have a less than one percent chance of seeing home prices decline.

That sounds off to us -- it's difficult to believe Houston will be immune to the economic crunch -- but we don't want to ask any questions.

Instead we just want to wallow in the (momentary) good news for as long as we can.

-- Richard Connelly

Keep the Houston Press Free... Since we started the Houston Press, it has been defined as the free, independent voice of Houston, and we would like to keep it that way. Offering our readers free access to incisive coverage of local news, food and culture. Producing stories on everything from political scandals to the hottest new bands, with gutsy reporting, stylish writing, and staffers who've won everything from the Society of Professional Journalists' Sigma Delta Chi feature-writing award to the Casey Medal for Meritorious Journalism. But with local journalism's existence under siege and advertising revenue setbacks having a larger impact, it is important now more than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" membership program, allowing us to keep covering Houston with no paywalls.

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