Nationwide, the 2007 foreclosure rate was 79% over the 2006 rate.

In Texas, though, the 2007 rate was 4.6% LOWER than the 2006 rate. Less speculative real estate price runups –> fewer folks overstretching to buy a modest home –> fewer folks in fuck-you ARMs –> fewer folks getting screwed now –> fewer folks in foreclosure. Score.