Amusing Austin Statesman headline yesterday

[verybadgnome]

Originally Posted by Roadking2003

In the paper today there was an article lamenting the five year decline in AISD enrollment and blaming it on a lack of affordable housing.

The amusing part is that Austin has taxed and regulated itself into a high cost house delima. Every year Austin increases taxes and housing regulations. The cumulative effect of increasing regulations and taxes year after year is that low cost housing is only available in the suburbs. So that's where people with school age children go.

And the politicians don't have a clue.

Property taxes are why the total cost of a mortgage is higher but that does not explain why transaction prices for homes are higher than other large cities in the state. Also consider that moving to suburbs around Austin doesn't result in a huge drop in price that your regulations argument would support, although I would agree that things like energy efficiency mandates do increase the initial cost of a home. The bottom line is prices have been rising for the most part due to job creation at higher pay scales and new wealth coming into the area that have led to bid up prices.

And a side note: If we could tax the state-owned facilities and did away with capitol view corridors (a state regulation) we would be better off.

[Aquitaine]

I'm done arguing about charters.

argues about charters

Ha.

in large numbers in January

I guess you don't teach statistics.

AISD enrollment drops by 1,600 students, preliminary data show

[Roadking2003]

Originally Posted by verybadgnome

Also consider that moving to suburbs around Austin doesn't result in a huge drop in price that your regulations argument would support, .

Actually, they do. I have first hand experience in the building cost difference between Austin and it's surrounding areas.

[verybadgnome]

Originally Posted by Roadking2003

Actually, they do. I have first hand experience in the building cost difference between Austin and it's surrounding areas.

I would argue that the land costs as reflected in the greater desirability of Austin make up most of the difference. Not too many $300-400k 7,000 sq. ft. lots in Kyle or Hutto.......

As far as regulations are concerned I can think of some that could have had positive ROIs for West, Texas as well as Houston.

[pop251808]

Originally Posted by verybadgnome

...As far as regulations are concerned I can think of some that could have had positive ROIs for West, Texas as well as Houston.

Yup. I built commercial over the last several years inside the city limits. Complained the entire time, the process IS a pain in the...BUT, after Harvey dumped considererable rain on us with nary a problem on either my place or the surrounding streets and properties, I can only conclude that CoA's regs largely help mitigate potential flooding problems when 12 inches of rain fall in a couple of days. I don't think you can say the same about Houston.
As for West: thank the Texas legislature. State law doesn't even allow rural counties to protect themselves with locally enacted fire codes, etc. THANKS, Texas. So much for local control. The lege's first job is to protect big money interests, should they want to put a nuclear fuel dump in your rural neighborhood; or more likely, oil wells and refineries.

[mhudson78641]

Originally Posted by Austin97

he can take out a HELOC for the maximum amount commit not to spend it on anything except taxes.

There is only interest on the amount borrowed.

If he can borrow up to 80% he could potentially have 200K or so to pay taxes for N number of years. If his house continues to go up in value he can refinance and do it again.

Max on a HELOC in on Texas for homestead is 50%.