What are Austin's best zip codes and neighborhoods? (Round Rock, Georgetown: best neighborhood, apartment)

[radiolibre99]

I don't condone the actual soft racism of the SF poster but there is a shared frustration among Californians about all of the foreign money, not just from Asia but from all over, flooding the market into CA driving prices up along the coast. It adds to the already increasing burdens of native residents looking to enter the housing market.
So this is happening in Austin too? I think that was their surprise because it's been an on going thing in CA and that it has reached desirable places in Texas too. I wouldn't be so quick to judge as it's a constant frustrations among many Californians.

[A-Tex]

Originally Posted by radiolibre99

I don't condone the actual soft racism of the SF poster but there is a shared frustration among Californians about all of the foreign money, not just from Asia but from all over, flooding the market into CA driving prices up along the coast. It adds to the already increasing burdens of native residents looking to enter the housing market.
So this is happening in Austin too? I think that was their surprise because it's been an on going thing in CA and that it has reached desirable places in Texas too. I wouldn't be so quick to judge as it's a constant frustrations among many Californians.

Sort of like how Californians flooded the market and have caused prices to spiral out of control here? I guess that's ok with the OP though -- as long as they aren't of a different ethnicity and speak English.

[radiolibre99]

Originally Posted by A-Tex

Sort of like how Californians flooded the market and have caused prices to spiral out of control here? I guess that's ok with the OP though -- as long as they aren't of a different ethnicity and speak English.

Yup it is hypocrisy on the part of the Californians to complain about that when they're out flooding the market in places like Portland, Austin and Vegas.

Californians in places like SF Bay Area and Los Angeles are finding it increasingly harder to compete against rich foreign money. There are swathes of areas around LA where the market has been flooded by foreign cash and have become zones for rich foreigners. A lot of the times they're secondary homes for the rich people to send their kids to school in the states.

That has caused tension here among native Californians and rich foreigners. I am in LA and when someone talks about housing they'll usually say all the rich Chinese are buying all the homes. It's just out of frustration they say these things. I try to look at it as deep seated frustration with a bit of actual grievance about having to compete in a tight market that is now global.

But honestly man, is that really happening in Austin too?? Cus that also surprises me.

[Kion]

Originally Posted by radiolibre99

Yup it is hypocrisy on the part of the Californians to complain about that when they're out flooding the market in places like Portland, Austin and Vegas.

Californians in places like SF Bay Area and Los Angeles are finding it increasingly harder to compete against rich foreign money. There are swathes of areas around LA where the market has been flooded by foreign cash and have become zones for rich foreigners. A lot of the times they're secondary homes for the rich people to send their kids to school in the states.

That has caused tension here among native Californians and rich foreigners. I am in LA and when someone talks about housing they'll usually say all the rich Chinese are buying all the homes. It's just out of frustration they say these things. I try to look at it as deep seated frustration with a bit of actual grievance about having to compete in a tight market that is now global.

But honestly man, is that really happening in Austin too?? Cus that also surprises me.

No. It's not.

Please, please, stop trying to get information on the city from the Internet. Just come here and visit repeatedly. There's just too much that is totally subjective.

[sdsurfista]

Most of the homes in my neighborhood in San Diego are being purchased by wealthy Chinese. They are then rented out on Airbnb or simply sit vacant, exasperating the already horrible housing crisis. The Chinese and other foreign nationals are buying all our homes because they want to get their money out of Asia and also they are not subject to US capital gains tax, like you or me.

So Californians are being forced to move out of state which just spreads the problem to other cities sadly. I don't know a solution other than making non residents pay the same tax and limiting vacation rentals. Many local hotels are nearly empty so far this year.

Paradoxically the Chinese think of Texas as very unfriendly to outsiders but in reality CA is becoming more racist and unwelcoming as the trend of displacement intensifies.

Hell I don't want to move to TX but I am running out of options !

[Kion]

Originally Posted by sdsurfista

Most of the homes in my neighborhood in San Diego are being purchased by wealthy Chinese. They are then rented out on Airbnb or simply sit vacant, exasperating the already horrible housing crisis. The Chinese and other foreign nationals are buying all our homes because they want to get their money out of Asia and also they are not subject to US capital gains tax, like you or me.

So Californians are being forced to move out of state which just spreads the problem to other cities sadly. I don't know a solution other than making non residents pay the same tax and limiting vacation rentals. Many local hotels are going bankrupt.

Hell I don't want to move to TX but I am running out of options !

If you do not want to move here. Don't.

[MrCurmudgeon]

Originally Posted by sdsurfista

The Chinese and other foreign nationals are buying all our homes because they want to get their money out of Asia and also they are not subject to US capital gains tax, like you or me.

Non-resident aliens are subject to the same tax regime and are required to submit a 1040NR (non-resident return) for any Federal taxes owed, and are subject to California taxes as well. Non-resident aliens are also subject to significant withholding by both the Feds and California (FTB) at the time of sale to ensure that they file accordingly.

[radiolibre99]

Originally Posted by MrCurmudgeon

Non-resident aliens are subject to the same tax regime and are required to submit a 1040NR (non-resident return) for any Federal taxes owed, and are subject to California taxes as well. Non-resident aliens are also subject to significant withholding by both the Feds and California (FTB) at the time of sale to ensure that they file accordingly.

With the exception of the incorrect tax info, everything SDsurfista said is a pretty accurate depiction of California resentment toward foreign nationals, mostly Chinese, buying up properties for secondary purposes or to use as a way to get their money out of Asia. It's exasperating an already tight housing market in CA.

[sdsurfista]

Originally Posted by MrCurmudgeon

Non-resident aliens are subject to the same tax regime and are required to submit a 1040NR (non-resident return) for any Federal taxes owed, and are subject to California taxes as well. Non-resident aliens are also subject to significant withholding by both the Feds and California (FTB) at the time of sale to ensure that they file accordingly.

That is easily bypassed by holding title in foreign trust or corporation. Many US tech companies do the same thing, establish foreign shell companies and keep the profits offshore, avoiding US taxation.

The US Is About to Become an Even Bigger Tax Haven

Technically the information you posted is totally correct MrC, but many are gaming the system.

[radiolibre99]

Originally Posted by Kion

No. It's not.