Why Limit Lending To Texas?
Although not immune to the broader economic issues, we believe Texas is better positioned to deal with downturns. Support includes, but is not limited to, the following:
- Central “hub” location promotes domestic and international business activity.
- Affordability (i.e. housing, no state income tax) provides many families with greater disposable income.
- Diverse industry and employment base in large metro areas.
- Officials and planners continue to attract new business to the state bringing more job opportunities to residents.
- Unique laws aided to prevent some of the mortgage lending abuses that have negatively impacted other states.
- Texas did not benefit from irrational real estate appreciation, and is not experiencing an unprecedented real estate correction.
- We feel we can best execute our business strategy and meet the goals of our investors by maintaining a single state geographic focus.