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In many parts of the nation, new home construction experienced a slow period between 2006 and 2010. The Dallas-Fort Worth region in Texas was no exception. New construction fell by more than 70 percent, jeopardizing a once-strong industry in the growing area.
First Texas Homes employed a creative fiscal strategy to take advantage of this downturn. Though opportunities were scarce and competition was at an all-time high, the company was able to expand by 55 percent in 2010, beginning the construction of 900 new homes at a time when building was all but frozen.
The company relied on self-financing to build speculative homes without relying on a bank’s approval. First Texas Homes used this method to rise to third place in local rankings.