Overall, the state of Texas has done well during the national economic crisis that began last year. The housing market in many cities, such as Austin, has dipped a bit, but not nearly as bad as in other states. The unemployment rate is still lower than other states as well. Of course, Texas has not been immune to it all. A recent report shows a definite decline in commercial investments from last year.

The latest issue of Southwest Economy, a publication by the Federal Reserve Bank of Dallas, states that by the end of August this year, overall commercial sales stood at about $14 billion statewide. Last year during the same time frame, actual sales were above $31 billion. The report also states that commercial real estate, including office space and retail, are down by 54%. The credit crunch and recent Wall Street woes have been blamed for this decline. Due to the credit crisis, lending practices are changing. These days it is harder for everyone to achieve the credit necessary for buying a home, let alone invest in commercial real estate. Investors are seeking higher risk premiums which will also affect the economy in Texas.

It is a difficult time for our country, and Texas cannot remain unaffected by the national economic health. Remember, though, that throughout this ordeal, that there are many factors still keeping Texas above other states. The housing market and employment rates are still steady, even if declined. There are still many companies moving to Texas. Though it may be another year or two before most experts believe the economy will start to really steady itself, Texas remains a good investment state.