North Texas Can Weather Recession

On top of everything, there's the subprime mess, which nobody seems to fully understand, except that huge numbers of these mortgages were packaged and sold around the globe. With a sluggish economy and falling home prices, many of these mortgage holders are upside down, and foreclosures both nationwide and in the Dallas-Fort Worth area are at their highest since the real estate collapse of the mid-1980s. Though the Metroplex hasn't experienced the housing price bubble now bursting on the East and West Coasts, a huge amount of subprime lending has occurred locally -- $7.5 billion in 2006 alone.

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