for once I agree with you, but throw in NY and FL, too.

Too many think that prices only go up. In fact, certain luxury segments in Manhattan are already falling.

 

"Housing prices, sucks to be in CA"

Actually, it is suck to be in market to buy any house in CA now. But it is very very good for home owners who bought their houses more than 5 years ago.

That is me

There is no way I can afford to buy my house with current price, it is too high

 

I used to live in Dallas (back in the 80's). the price for homes are definitly less, however, when you wake up in the morning you are still in Texas. Although many people love the state of Texas, I did not like living there.

I think SoCalifornia offers residents a wide variety of entertainment, beaches and certianly a more deversified work force. If you can handle the people and the change in lifestyle, any where but California is a good deal for real estate..

 

I agree, I don't think interest rates will kill the So.California housing market. It may take a little longer to sell, however, there is still a single-family housing shortage. The people buying at high prices today, may take a slight dip, however, as long as you bought two or more years ago, you will not drop below the purchase price (that allows a 15-20% dip).

One of my brothers is a mortgage broker, he claims his office is busier with new home loans than ever before. People are upgrading homes and paying a fortune more every year on Prop Tax, however, the reason their buying now is because as long as the housing shortage remains, prices will not drop.

No one really knows who's right, only time will tell.

 

Blah ,blah, blah ! Homes prices suck in SoCal .

There is a reason the Beach Boys sang about California Girls.

They didn't sing the praises about Texas Women.

Home prices are high here because people want to live here, if you want cheap leave the state. Supply and demand , plain and simple.

One of the homes we own here in Orange County is valued at $950,000. last year we paid $1975.00 in property taxes. We have friends that live in Texas , they pay a buttload more in property taxes for a home with the same value. On top of that they have the pleasure of paying huge electric bills trying to cool their home in summer and with home fuel prices supposed to sky rocket this winter , they are going to shlt. Plus the humidity and those wonderful mosquitos.


But even WFO leaves SoCal every once in a while , right now I'm in Hawaii .Sitting here looking at the ocean , surfing the web on the laptop from the balconey high atop the riff raff . Oh crap a couple of Texas beeferillas are walking on the beach . No thanks I'll stick with California Girls.

 

California is not going to have a crash. People are still moving here and they are still building. Baby boomers want to retire in sun belt areas. California, Arizona, and Nevada will remain strong markets. They are also investing in 2nd homes, something the rest of the developed world has and we are getting into. There will be a slight adjustment, but I feel people are investing real estate. The fact a house is not a liquid asset, or liability(depending on how you see it), means things can not crash quickly. Trillions of dollars moved from the money markets to the real estate market in recent years. Baby boomers will have to start with-drawing from retirement accounts very soon, sure some will go back to CD and Bonds, but the way I see it is real estate will continue to be a strong investment. California is a special place. Every single Native American language in America is represented in California. This means people have been coming here from everywhere for thousands of years and this trend will continue.

Sam

 

Oklahoma baby. Lower taxes than Texas, you dont have water rationing every summer, great lakes, just got the lotto, casinos galore, and not much else. Just ignore how crappy of a state it can be.

 

too many churches. i lived in okc as a child and vowed never again

 

You bring up a good point. Texas does have, I've been told, 4% property tax while we have around 1-1.1% here in CA. But your situation is likely exagerated by CA prop 13. Sounds to me like you bought your house for < $200,000 and the property tax is based on that...or has only been able to re-asses to that value in 7% increments from the original value.

In other words, I'm in CA too and pay 2X the property tax as you for a less expensive home

As far as the financial implications of living in Texas(not gonna touch the mental implications), you also have to remember you are trading higher property taxes for no state income tax. If you buy an expensive house and have a crappy job, it might not do you any good(except the house will be huuuge). If you have a great job and a cheap house, you'll save a ton of money.

 

You have to be foolish if you think the cost of living in Texas and California are similar.

You have to be an even greater fool in you think that the majority of texas girls are fatties. I think you have Texas confused with Minnesota or Wisconsin.