A Dallas-Ft. Worth television station has this on the spreading housing bubble. "When homes get a little too pricey, homebuyers start looking elsewhere. At least that's the theory behind a new housing trend called the 'rolling boom.' It's a trend that's good news for Texas—and particularly for North Texas."

"'This is a house in North Dallas: 5,668 square feet; 6 bedrooms, 6 baths; junior Olympic sized pool; outstanding.' That's how Realtor Steven Shipler described a dream house he sold in less than 30 days to a California couple. Shipler said the couple had sold their property in California and had enough equity to literally pay cash for a million dollar house."

"California, on average, loses about 100,000 residents a year to states like Texas. The effect is what some experts call a 'rolling boom.'"

"In fact, a thousand new people move to the Lone Star State every day. 'The Texas market is somewhat of a secret still,' Shipler said. 'We've just tracked the trend and that trend has gone from California—the L.A. area—through Phoenix, through that market, on over to the Dallas area, and it's a huge secret.'"

The Star Telegram reports there is no shortage to choose from. "The record pace of home construction in the Dallas-Fort Worth area has hit another milestone: more than 50,000 home starts in 12 months. But the inventory of new houses is climbing. They closed on 45,996 homes in the same period, also a record high."

"David Brown, director of Metrostudy's Dallas-Fort Worth region, said that many transfers are selling homes in fast-appreciating areas of the country, enabling them to buy bigger houses for relatively less money in North Texas."

"In the short term, the inventory of finished but unsold homes is up from a year ago, to a 7.3-month supply from 6.7 months a year ago. 'We are seeing an increase in the speculative construction,' Brown said. 'It's not a major problem, but it is certainly something we are watching.'"

"Ted Wilson said the new demand hasn't helped builders much because the builders are still being squeezed by high costs and competition. The competitive pressures to keep the prices down and the upward pressure on the cost of doing business is making the market 'a pressure cooker,' Wilson said, and some subcontractors have gone out of business. 'Their margins are razor thin,' he said. 'It's difficult to compete when you have 15 builders in a five-builder submarket,' Wilson said."