I have always been against government intervention or stimulus to try to avoid recession. Markets can correct themselves quite efficiently without government interference. The latest government intervention has done nothing but spread the problem out and mortgage our future trying to do it. So if the economy worsens, how will it affect us in Dallas?

In my last RealPoints post, I mentioned a property tour I was giving in the 200-degree heat of the summer of 1980. It was damn hot, as I described. We all wore coats and ties in those days, although some of us figured out that by wearing a vest, we could shed the coat and still look appropriate. Besides the change in apparel expectations since then, another big difference is the reliance we all had on one another for information.