Another Californian Possibly Moving In... (Austin, Round Rock: equity loan, brokers, neighborhood)

[ashbeeigh]

Originally Posted by ScoPro

I would guess the main complaining about newbs driving up the housing costs is based on the substantial numbers of out of state buyers coming in with cash offers and generating bidding wars for properties.

Texans like to focus the blame on Californians, but seem to forget that foreign buyers make up the largest portion of that demographic, or so I read not long ago.

I’d love to see the article about “foreigners” driving up prices. Crazy rich Asians or just Elon Musk?

[ScoPro]

Originally Posted by ashbeeigh

I’d love to see the article about “foreigners” driving up prices. Crazy rich Asians or just Elon Musk?

No, Mexican nationals. I think the article was in the AAS earlier last year.

Edited to add a link from googlin’

https://austin.culturemap.com/news/r...o-india-china/

[ScoPro]

Googled up the first house my brother bought in 1959 in Austin. He paid $6,500 for the place, and now just the estimated annual property taxes are $1,000 more than that!

https://www.zillow.com/homedetails/1...29418001_zpid/

[ashbeeigh]

Originally Posted by ScoPro

Googled up the first house my brother bought in 1959 in Austin. He paid $6,500 for the place, and now just the estimated annual property taxes are $1,000 more than that!

https://www.zillow.com/homedetails/1...29418001_zpid/

And over 500k!

[Dub D]

Originally Posted by ScoPro

Googled up the first house my brother bought in 1959 in Austin. He paid $6,500 for the place, and now just the estimated annual property taxes are $1,000 more than that!

https://www.zillow.com/homedetails/1...29418001_zpid/

The same can be said for homes in California. Not sure how a home sale 70 years ago matters...


And regarding the political landscape, California isn’t all blue as people think. A lot of Californians leaving are leaving because they aren’t as liberal as the liberal city centers.

Just an FYI.

[BobPhipps]

Originally Posted by ScoPro

Googled up the first house my brother bought in 1959 in Austin. He paid $6,500 for the place, and now just the estimated annual property taxes are $1,000 more than that!

https://www.zillow.com/homedetails/1...29418001_zpid/

Originally Posted by ashbeeigh

And over 500k!

Looks to be a little over 7% rate of appreciation over 61 years. Just curious, what would you two expect the value and property tax to be after that length of time.

[BobPhipps]

Originally Posted by Dub D

The same can be said for homes in California. Not sure how a home sale 70 years ago matters...


And regarding the political landscape, California isn’t all blue as people think. A lot of Californians leaving are leaving because they aren’t as liberal as the liberal city centers.

Just an FYI.

Certainly the suburban areas will tend to be outside of that type of political lean (not all that different from most areas of the country, including Texas). Metropolitan areas tend to go the other way.

There are certainly pockets of what you're referring to in areas of San Diego and Orange County. Not so much in Northern California. And as you stated, it's gotten to a point where people just aren't that extreme and want to get away from it.

[ATX Wahine]

Originally Posted by BobPhipps

Certainly the suburban areas will tend to be outside of that type of political lean (not all that different from most areas of the country, including Texas). Metropolitan areas tend to go the other way.

There are certainly pockets of what you're referring to in areas of San Diego and Orange County. Not so much in Northern California. And as you stated, it's gotten to a point where people just aren't that extreme and want to get away from it.

Mmmm not true. Northern CA has many counties that run almost or half red, like Modoc, Lassen, Shasta, Amador, Calaveras, Glenn, Mariposa, Placer, Plumas, Tuolomne, and Tehama.

There are plenty of conservative folks in Northern CA.

[Need4Camaro]

Originally Posted by BobPhipps

Looks to be a little over 7% rate of appreciation over 61 years. Just curious, what would you two expect the value and property tax to be after that length of time.

Well FWIW the annual inflation rate of the nation is 1.4%. I don’t know how it has averaged over 61 years but if it had remained relatively steady in that regard then 7% inflation would be alittle over 4x the national. I would definitely say Austin’s urban areas are becoming pricier on an above average level in comparison to other metros (that aren’t already Uber expensive such as the coastal cities) .. lately especially seemingly.

I would also say investors buying up housing inventory in cash in such large numbers is definitely causing a very felt shockwave to locals here who are not moving out of $800k - $1.2 million dollar homes and purchasing out right as it bars up the real estate values as well as reduces inventory for lower / middle class buyers.

[BobPhipps]

Originally Posted by ATX Wahine

Mmmm not true. Northern CA has many counties that run almost or half red, like Modoc, Lassen, Shasta, Amador, Calaveras, Glenn, Mariposa, Placer, Plumas, Tuolomne, and Tehama.

There are plenty of conservative folks in Northern CA.

Of all the counties you just listed, the total population is roughly 1.2 million and away from the metropolitan areas (which as I stated, tend to lean the other way). The Bay Area is 3.3 million (SF and San Mateo counties alone are almost 1.7 million). The combination of the two is pretty much the demographic for the area (about 2 to 1).