Inflated home prices (Houston, Dallas, Austin: car insurance, transfer, purchasing)

[Fluffypoms]

Originally Posted by Leonard123

Personally, I don't know that there's anything I'd like at any price in north Texas. A higher price point will buy a larger house or a larger yard, neither of which I want. I live alone. I don't care about schools. It seems to be an obsession with people on this forum, in my opinion to a very unhealthy extent. I am noise sensitive and won't drive on Texas highways or access roads. A neighborhood off a major city artery or highway, like most around here, would not be acceptable.



I don't shop at Costco. I shop mostly at Walmart, so I see all kinds of people. I do see a lot of Indian shoppers at Sprouts, but they could just as well be coming from Frisco since it's close to the boundary. I don't really scrutinize or pay close attention though.

I definitely think you value different things than a lot of people on this forum. I'm glad you purchased your home already and don't have to deal with all this inflation caused by us new people.

A higher price point also buys a house in a good school zone. The house will be smaller and not as nice as the house 10 mins away with a lower school rating. A lot of the new people here are highly educated with high-paying jobs and these people tend to value good schools for their kids. You can see it as a kind of a retirement fund. They invest in their children now so they are set for life financially (most likely) so they don't need to ask their parents for help later on in life.

That may be it, I don't think these new people here shop at Walmart regularly.

[rabbit33]

And if I understand correctly, the name of India in Hindi isn't "India" anyway, but Bharat?

[albert648]

Originally Posted by Fluffypoms

Absolutely true. I should add that I am referring to the group of people who are moving here from high cost of living cities with high incomes. A 750k home here would cost easily 1.5mil+ in New York, LA, San francisco, Northern VA, etc. So although they have lower property taxes, it works out to be the same because the property is more expensive. Then add the no income tax...you can see how DFW can be very attractive for this group of people.

When I moved back stateside, I stopped looking for jobs in California and NYC (NoVA was always off the table - never saw the attraction) when I ran the numbers and decided there was no realistic way I'd be able to buy any property at all that is to my liking. Whereas, in DFW, I can easily do so on my salary and have money left over to buy toys, go out and travel. If you took my house and dropped it in Cupertino or Bergen County or Westchester, it would cost 3-5x what I paid here. I could realistically expect to make 20% more in exchange for that. Between the state/local income tax and the difference in COL, it wasn't worth the trouble.

[crazyforger]

Originally Posted by rabbit33

And if I understand correctly, the name of India in Hindi isn't "India" anyway, but Bharat?

https://www.scoopwhoop.com/The-Origi...And-Hindustan/

[mojo101]

RECENT STudy-12% homebuyers use Bitcoins to make a down payment or 100% of their house,smart move.except they have to sell their Bitcoins and pay capital gain tax

[cordata]

12% ? Maybe 1.2% or 0.12% of buyers...

[Leonard123]

Originally Posted by Fluffypoms

I definitely think you value different things than a lot of people on this forum. I'm glad you purchased your home already and don't have to deal with all this inflation caused by us new people.

A higher price point also buys a house in a good school zone. The house will be smaller and not as nice as the house 10 mins away with a lower school rating. A lot of the new people here are highly educated with high-paying jobs and these people tend to value good schools for their kids. You can see it as a kind of a retirement fund. They invest in their children now so they are set for life financially (most likely) so they don't need to ask their parents for help later on in life.

That may be it, I don't think these new people here shop at Walmart regularly.

I never actually purchased my home. I inherited it. It's where I've lived most of my life. I am not happy with it, but the alternatives today have equal or worse drawbacks. It's not going up in value nearly as much as most houses, but it is not due to schools which all appear to be well rated. No one has really seemed to notice that the new vs existing price gap has grown bigger than ever, but it's worse in some locations than others, and I can't really figure out why.

Based on what I've seen in various school rankings, incomes, and home values, the relationship is not as significant or consistent as some here make it out to be, particularly for otherwise convenient and more established locations. There seems to be a stronger correlation for more remote, far-flung areas.

It's one thing to care about good schools. It's another to engage in the kind of analysis and obsessive meaningless nitpicking some people do. I suspect children's academic performance will depend far more, and in most cases entirely on their own self motivation than the school itself. It's really a shame parents don't put more emphasis on the Word of God than the almighty dollar.

[hbdwihdh378y9]

Originally Posted by CoastieOnTheMove

Think your confusing terms here. East Asians are Chinese, Japanese, and Korean. No one uses the term West Indies anymore LOL. People who have origination from the Americas are Native American, not Indian. People from India are Indian

Who made you the language police? American Indians (for the most part) are Indians by their own preference. "East Indians" is readily comprehensible, just like Asian Indians. And, yes, it is necessary to distinguish since in this country for millions of Americans -- likely a majority -- "Indian" means American Indian.

[hbdwihdh378y9]

Originally Posted by CoastieOnTheMove

Yes, colonizer terms. Never heard my Indian friends want to be called or call themselves "East Indians". South Asian, yes.

Which of course is not relevant to how people in this country speak and understand English.

[Kenro911]

What I find curious is that real estate transactions are Highest Ever. Therefore a lot of people are buying homes, more than pre pandemic.

Yet the prices have gone up drastically in everything from gas to houses and everything in between. Clearly USA is a lot wealthier than we are all led to believe quite frankly. Because people are eating up those 30-40% increase in prices very easily and are affording to buy homes with no issues or slowdown.

Texas home prices are actually lagging behind California, so there is clearly so much money out there that even those who are leaving California - there is plenty of people taking their place, its not like Detroit where people just moved elsewhere.

So I guess the reality is that we as a nation a lot richer than we thought previously if we can sustain such price increases and have more real estate transactions than ever in history continue. While inflation is rampant and there is price increases literally in everything at the same time. I mean I see people paying 10K over MSRP on 35K cars like its nothing, hundreds of thousands on top of listing price of a home that's already 35% above last year etc. Does not seem to faze anyone, plenty of qualified buyers for everything at those inflated prices. Its not like Volume is low, nope the volume on transactions is absolutely huge. Everyone is eating up these huge costs increases without batting an eye it seems.

I thought that this was the minority that will sooner or later run out, the people who could afford these prices but it seems I was totally wrong.

So if you are looking around and thinking 'wow I can't afford this anymore' then the reality is that you're too poor and its your own fault because everyone else is making bank.