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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: KM who wrote (46458)1/1/2006 12:20:21 PM
From: Lizzie TudorRead Replies (1) of 306849
 
what happened is when all the silicon valley people lost their jobs a few years ago , many left the area and a lot wound up in Texas. When you have never seen house prices other than CA, Plano and McKinney etc look like a steal. But of course the dynamics of the market are **completely different**, the most notable difference is the availability of land for constant new building and (imo the most important) NO frozen property taxes. Sure you can buy a cheap house in Texas but you may never be able to sell or even rent it. This is a strange proposition to most Californians. This person would have been better off buying in an outlying CALIFORNIA area like Tracy. Those houses don't appreciate too much and sometimes you get stuck with them but eventually they are saleable.
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