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Old 01-09-2011, 02:51 PM
 
Location: Austin, TX!!!!
3,757 posts, read 9,044,256 times
Reputation: 1762

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Quote:
Originally Posted by Trainwreck20 View Post
Ah, but so are you . If people were to really believe the media hype w/o any personal 'filtering' of the story, we would have about 10 million people camped out in the city limit waiting for their easy job :P. People may check into Austin because they hear via the media that there are jobs here, but very few people will move w/o vetting the information for accuracy and/or establishing applicability to their own situation.
Yep! Most people really are reasonable in this regard.
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Old 01-09-2011, 02:56 PM
 
Location: Austin, TX!!!!
3,757 posts, read 9,044,256 times
Reputation: 1762
Quote:
Originally Posted by orbius View Post
It didnt sound like a news story it sounded like an infomercial. All the foreclosures in the area arent because these people just landed a great new job in the land of job creation. Also the people who pack up and come to the land paved in golden jobs are soon going to be competing with highly educated ex-State employees with deep Texas roots and heavy connections in town.
I bet a lot of the foreclosures are the result of out of state investors. When we were looking at houses two years ago, and we looked at many, the several that were short sales or about to go into foreclosure that we looked at were people that bought as investment properties. They used funky financing that was going to reset after three years, they had the homes built and then rented them out. They planned to flip in three years. But they didn't increase in value the way they thought, so they were stuck holding them and owing more than what they they could sell them for. It would be really interested to see what percentage of foreclosures in the area were owner occupied.
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