To answer we have to first realize what is El Paso is not we are not a economy based on the normal rise and fall of the United States Economy. El Paso is insulated from the risk based on the extent of other economic non-affected businesses in El Paso and the fact that when the Government wants to stimulate the economy they spend a lot of money on Military and we have a lot of military.
We have seen the recourse of bad financing though and this is the only reason we are seeing any downward motion in the housing market. IT is becasue we are flooding the market with home that are bank owned and repos which are not selling at fair market value which means values are going down. We are also being affected by the main stream media. People hear Doom and Gloom and they react to doom and gloom. Don't worry though El Paso will come shining through and I predict it will be in the near future once people stop focusingon the negative and we get rid of the Repos So start buying those REOS and lets all makes some money.