Agree with you about the panhandle, especially as the cost of housing has plummeted (which unfortunately has not happened in my neck of the woods).
I expect to see a 15-20 percent slump in average home prices through next year, aside from a few locations that have a bit of “immunity.” There are tons of very nice homes currently in foreclosure or abandoned. I know of four foreclosed homes in the nicest subdivision in our small town, and I'm sure we'll see many more next year.
However, the quality of life here in the panhandle remains high, because the quality of our people is unusual. This is a rock-solid Christian conservative area, and people help each other through rough times.
Oh, we have a few liberal nut-bags, but they tend to hide in the shadows and attack only in forums that allow them anonymity.
Just spent an afternoon on our white sand beaches as the tide comes in and turns the bay a beautiful blue, and you'll be hooked. I was.