Just like you have to wonder what is going on in the head of people that do stuff like rob a bank run out and jump onto a city bus to get away or make god money but prefer to live in the ghetto. I wonder what is going on in the heads of people that don’t live in Texas. I thought that maybe it is just me. But NO the Brookings Institute http://www.brookings.edu/reports/2009/06_metro_monitor.aspx released a study ranking the 100 largest metropolitan areas in the USA as to how well they have performed despite the recession of the last 15 months. In this report 6 of the top 12 metro areas were in Texas. With 4 of the top 5 being Texas towns.
Things considered were percent change in employment, percent change in gross metropolitan product, and to bring it back to real estate real change in housing prices.
The rankings were:
1 San Antonio
2 Oklahoma City
3 Houston
4 Austin
5 Dallas
In house prices Houston was number 1 in the US with an appreciation of 4.7%.
That coupled with the fact that housing is still very affordable (you can buy a mansion), you can actually buy houses at retail that cash flow because of the cost to buy houses versus the high rents and low costs of maintenance you can get and no state income tax(you can make lots of money). A legal system that allows only the defense against eviction that they paid the rent (you don’t have to put up with BS) and bankruptcy that allows unlimited homestead exemption (If you mess up you still get to keep your mansion).
I always say that it costs the same to be poor everywhere In the USA, but where is it cheap to be rich (TEXAS)?
I guess people just live where they find themselves (New Jersey). But I ask if you woke up and found yourself sitting in the middle of the street or on a dung heap would you just sit there and say this is home or would you come to your senses and MOVE to TEXAS!!!
Maybe some people have a problem with the heat in the summer.
I worked in College Station for a year. Summer was worse than the dead of winter in New England…NO ONE WENT OUTSIDE!!! The heat was unbearable. Lot’s of FLAT, DRY, HOT land.
I used to live in the north (Illinois, West Virginia, Virginia, New Jersy) it is hot everywhere in the summer. That is why God made swimming pools. And better still, we don’t get the snow in the winter. I played golf Christmas day 2008 and was in my pool in the spa in Feburary 2009.
Property taxes are high you can look at 2% to 3%. My houses generally are valued around $100k and I pay about $3k taxes per house.
I used to think that Texas was great like all parents think their kid is super. But then your kid scores 2400 on the SAT or wins state in the 800 meter dash and you know you were right. This report is not just some jerk (me) bragging this is an independent report using data.
You know I am a lifestyle freak. I believe that it is important to live like a king. I just sold my 3,000 sqft house and bought a 5,000 sqft house. I sold my house for a top price (the most my neighborhood would bear) and as I always say flipping doesn’t work and you don’t have to have a real estate license to be successful in real estate. A lady bought this 5,000 sqft house 2 years ago. She rehabbed it and I just bought it from her for what she paid for it. Why because nobody in this price point wanted a flipped house. Now I am sitting in a mansion paying a note that is as cheap as the rent I charge on some of my rentals. I walked into $300k worth of equity in this house. Her license didn’t make her be able to figure out how to flip this house. And buying a house cheap didn’t make her be able to flip this house. She made money when she bought it but she couldn’t get the money back out of it.
I love Texas. Yes, the property taxes can be considered on the high side. But they are tax deductible and we have no state income tax. This year our taxes went down. The economy is strong and most importantly…the people are extremely friendly. Southern hospitality is real here in Texas.
I don’t live there but I have visited. I like Texas, too.
I do have problems with the politics and religiosity of Texas. If you’re not a Southern Baptist, you must be an alien, or maybe some kind of Muslim. If you are not a gun-toting Republican conservative, must be somethin’ WRONG with you, boy!
But there is sure some gorgeous country in Texas. Lots of opportunity. Texas is the new (old) California. I predict lots more people will come. Texas will become more liberal, more balanced, more diverse, more sane. This is going to be a shock to today’s Texans.
I always enjoy the Southern politeness and charm in Texas. You can say anything, just wrap it in sugar first. And don’t discuss politics or religion.
Ive never been to Texas, but im STRONGLY considering moving there for a variety of reasons. I HATE winter, the economys good, everybodys pretty much conservative, taxes are low. Whats not to like?!?
It would be tough to leave HOOSIERLAND for me, but ive got a strong feeling in 2-3 years I could see myself making the move. What area you Texans suggest? Houston perhaps?
I am partial to Houston because I know the area, but if I were some alien Muslim from Indiana moving to get rich, I would move to San Antonio. The house prices are low enough and rents are high enough to make money. You do get a real feel that you live in another country but there are places you can live that are like the USA.
This is what kills me about being in San Antonio. If you order a hamburger they ask you do you want cheese on that? That is because in Spanish you order a hamburger with cheese or you order a hamburger without cheese. They literally translate hamburger. I always say that would be a cheeseburger. I guess I am just a nut about things.
What exactly is so great about Texas though? Maybe its something I cant understand until I go there… but, like… ive heard of that that certain “Texas swagger” people have. What seperates them from the rest of the country? I know the economy is good, and the taxes are good, and they are very friendly about carrying guns, all GREAT things, but ide like to hear why else you guys love texas. There must be more reasons other than “people are friendly”
I’m sorry, I was going to leve it alone until this Forbes report http://www.msnbc.msn.com/id/31782667/ns/business-forbescom/ came out. It is not just Texas, it is Houston. I keep saying if you just want to survive and live the life of the common man eatiing mac and cheese, then anywhere will do. But if you want to be rich Houston is the place to be.
Not just survive but actually get ahead during this recession!
The thing about any place is jobs. Texas has had a really stable job market since the 1980s. The main thing about Texas is that there has been quite a bit of diversity in employeers since the oil bust of the 1980s. There was Compaq, which was bought by HP and still has a large presence. These spawned a lot of software companies (BMC software) all those chemical plants and you have the medical center with MD Anderson, the Port of Houston and of couse NASA.
All those people need a place to live and they need to rent from you.