The Federal Reserve reported on the state of the Houston economy...
... Both new and existing home sales were up sharply in both September and October in Houston compared with 12 months ago. Local agents point to a definite impact on the local market from the new-homeowner tax credit, but it is difficult to judge how much it affected sales. Both September and October 2008 were heavily affected by Hurricane Ike and its prolonged aftermath, so this year’s 15–20 percent gain in sales is significantly exaggerated..."
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