Guess who leads the nation in highest percentage rise in Diesel, Texas
Guess who leads the nation in highest foreclosure rates, Texas. Why?
Well multiple reasons but Texas has no state tax so most taxes are paid via property taxes. Most homeowners bundle their property taxes and insurance together in escrow. And now is a perfect storm housing prices going up make property taxes go up at the same time insurance is going through the roof so suddenly they can't make their payments and they're going into foreclosure.
But wait there's more. During covid there was a moratorium on evictions and foreclosures and after that ended banks started to "sort through" it. Texas was one of the last states to start doing it I guess they were waiting for either the Feds to reinstate the moratorium or forgive the loans. So banks have been processing a huge backlog of delinquent home loans in Texas and those people are all going into foreclosure.
Good thing prices are so low in the golden age those people would be in trouble if prices were up