Add no significant development restraints
Reader comment on: How Texas Did It
Submitted by Lyle (United States), Aug 10, 2011 00:27
In Tx there are not significant restraints to developing raw land, no open space requirements (After all we have West Texas which is miles and miles of miles and miles). In addition Houston does not even have zoning, although other cities do. This meant that house prices did not shoot up (although it must be said that the memory of the 1980s bust in Tx might have helped, my house in Houston at the time fell 50% in value, and Houston was doing 3000 foreclosures a month with no bailouts, just a busy time at the courthouse.
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