Less than 6% of Texas mortgages are in foreclosure: the national average is 10%. 19% of Texas subprime loans were bust - almost the lowest rate in the country (numbers taken from the article linked below)
True, Texas is relatively unscathed by the recent economic troubles. But what's really interesting is the WHY of how most mortgage holders stayed solvent.
According to this article in Slate, it has to do with sane state government regulation of cash-out and home equity loans. You can't borrow crazy amounts of money against your home equity.
In fact, this provision is in the state constitution.
Aw, who are we kidding. The answer is we have Chuck Norris!