We've seen the record foreclosures, shredded savings accounts and Wall Street bailouts.

But to quote Monty Python: and now for something completely different.

"It's not as bad as projected, not as bad as people portray it and, at least in our area, there's a lot to be excited about," says one local expert, David Hall.

That's right.

Hall, down in the Fort Worth development department, is excited about new home construction.

"We're averaging 363 new single family permits, that doesn't include townhomes, just new single family dwellings," he said.

He admits that's down from the 500 new homes a month in the boom years, but still.

"Had it not been for the tremendous downturn in the housing market, we would have been off the charts. I don't think people realize how stable we are here," he said.

It's not just new homes.

Hall says the dollar value of new commercial construction, business parks and shopping centers, is surprisingly strong.

"While the actual number of permits is slightly down, and it's only slightly, the valuation is ahead of last year's pace," he said.

In fact he says it could be the highest in the last six years.

"On the western edge of downtown, you see nothing but new construction, new construction, more new construction. In fact if you combine commercial and residential, the value of new construction in Fort Worth will be greater than it was last year," Hall added.

"It's not doom and gloom."

At least in this part of the economy in this part of America, there's still a little light in the darkness.

E-mail jdouglas@wfaa.com.