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Because the "if" here is not true, I said that the prices in some inland areas of California are comparable to Texas now. But the inland areas are really not much better than living in Texas (in terms of amenities they are worse than the Dallas or Houston area). There is still a noticeable gap between Texas home prices and coastal California, but the gap is much smaller if you just looked at rents.
I don't so much mind renting, but its getting difficult to get my wife to agree. Also, if things go "as planned" we will save money on taxes in Texas as well, though at the moment we'd actually pay more in Texas.
Sure, though if you want to live in a good school district $150k is on the low end. But you can find the same things in inland California as well, for example:
The difference between bakersfield and Plano TX is that in there are plenty of jobs in Plano and the surrounding areas. If you live out in Bakersfield you will have to deal with nightmare traffic and hour commutes, what kind of life is that? I could have found a place in BFE TX for 70k, but instead I picked something decent.
Can you elaborate on the amenities you are talking about? I'm assuming the Ocean, scenery, and weather? My wife and I just got back from a trip to San Diego and we loved the ocean, weather, and scenery but surprisingly were happy to come back to Texas. I looked at the real estate when I was there and prices/traffic are insane out there. The only way I would live in a place like that is if I were very wealthy and didn't have to worry about having a job.
I wouldn't even consider living inland if I had to work. We getting A TON of California transplants here and they all have the same story. They are tired of the rat race there and are in heaven here. Giving up the weather and Ocean sucks, but you get over it pretty quick when you realize what you get here. I know the feeling because I moved from the east coast. You feel like a gerbil on one of those wheels... just spinning round and round and can never get ahead.
NEW YORK (CNNMoney.com) -- The "Keep Austin Weird" campaign must have worked, because the Texas capital is among the country's oddball cities that bucked the downturn.
In fact, Texas cities starred on the new list of recession-proof metro areas, with seven of 21 spots, according to MetroMonitor, a quarterly report released by Brookings Institute's Metropolitan Policy Program.
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Meanwhile, as unemployment rates climbed higher in every major city across the nation during the recession, the jobless rate in Austin only rose to 7.1% in March 2010 from 3.5% three years earlier. During the same period, the U.S. unemployment rate spiked to 9.7% from 4.4%.
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Leffingwell said that a decade ago, Austin worked to attract high-tech companies, and while some manufacturing jobs in the sector have since diminished, companies are still expanding their workforce, including Samsung Electronics, which recently announced a $3.6 billion project that boosts the company's payroll by 500 permanent positions.
And during the last two quarters, Austin welcomed job growth, adding nearly 8,000 new jobs during the period and increasing payrolls by more than 1%. Augusta, Ga.; Jackson, Miss.; Dallas; and Honolulu also posted similar gains.
"We've worked hard to diversify our economy and are aggressively targeting companies focused on renewable energy, medical technology and digital media," Leffingwell said.
Earlier this year, Texas invested $1.4 million through its Texas Enterprise Fund to lure Facebook into opening its first office outside of Palo Alto, Calif., in Austin. The social media giant opened the office last month and is actively hiring for its online sales and operations team. Facebook said it plans to hire over 200 employees in Austin over the next four years.
Last edited by chopchop0; 06-24-2010 at 06:19 AM..
The difference between bakersfield and Plano TX is that in there are plenty of jobs in Plano and the surrounding areas. If you live out in Bakersfield you will have to deal with nightmare traffic and hour commutes, what kind of life is that?
People don't need "plenty of jobs" they just need a single job. Bakersfield was just an example, if you want a bigger area look at Fresno or the Inland Empire.
Also, I don't know why you are mentioning "nightmare traffic and hour commutes". Bakersfield is not a commuter town, its too far from Fresno or LA to realistically commute on a daily basis.
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Originally Posted by ufcrules1
Can you elaborate on the amenities you are talking about? I'm assuming the Ocean, scenery, and weather?
I would not consider the weather an amenity, but certainly the ocean and natural environment are amenities. Texan cities are largely suburban sprawl and as a result lack some of the things you can find in other major cities, such as world class museums.
Anyhow, its also business amenities as well. Despite being the "worse state for business" California has an amazing amount of infrastructure for many different industries. Any money I saved on commercial rents in Texas I'd likely have to spend on plane tickets to California or NYC.
Quote:
Originally Posted by ufcrules1
I know the feeling because I moved from the east coast. You feel like a gerbil on one of those wheels... just spinning round and round and can never get ahead.
Texas is just as much of a "rat race" as California. Texans are not saving the money they save on housing, rather they are spending it. Paying more for housing does not mean you're in a "rat race", everyone spends their money in different ways. I would gladly pay more to live in California, but the current home prices do not represent what people are willing to rationally pay above and beyond Texas prices and that of course creates incentives for people to leave. But this should not be mistaken for a permanent shift in market fundamentals.
This is for user_id. For some reason, CA doesn't have any cities on this list....
The reason is very obvious, California has always had strong business cycles. It booms big and crashes hard.
Texas is by no means a "recession proof" state though, it has dealt with numerous issues in the past and will deal with issues in the future as well. But the current recession has been easier on the state than others. But its business cycle historically is not as rough as California.
None of this really says much about which state is better for business though.
Texas is just as much of a "rat race" as California. Texans are not saving the money they save on housing, rather they are spending it. Paying more for housing does not mean you're in a "rat race", everyone spends their money in different ways. I would gladly pay more to live in California, but the current home prices do not represent what people are willing to rationally pay above and beyond Texas prices and that of course creates incentives for people to leave.
For my parents, living in Texas meant my mother did not have to work. It also meant they could, and did, retire at 55 -- even after putting 3 kids through college. I imagine that may be the situation for other families who move here.
For me, it's meant that although both me and my wife work (she's part time, though), we've been able to acquire a few rental properties... and I'm currently looking to add a small ski condo somewhere where the recession has taken a toll. Our retirement accounts are funded well (although taken a hit due to the market), and with the rents coming in we probably could retire at 55 or earlier. Or maybe sell some of the properties and open a store or trailer eatery or something. It's fun to think about those options, and I feel lucky and fortunate to have them.
So when you say Texans are spending as much as they make.. well, many are investing, saving for retirement, or taking advantage of having to work less (or have a spouse not work). I'd say that's pretty opposite of a rat race.
For my parents, living in Texas meant my mother did not have to work. It also meant they could, and did, retire at 55 -- even after putting 3 kids through college. I imagine that may be the situation for other families who move here.
For me, it's meant that although both me and my wife work (she's part time, though), we've been able to acquire a few rental properties... and I'm currently looking to add a small ski condo somewhere where the recession has taken a toll. Our retirement accounts are funded well (although taken a hit due to the market), and with the rents coming in we probably could retire at 55 or earlier. Or maybe sell some of the properties and open a store or trailer eatery or something. It's fun to think about those options, and I feel lucky and fortunate to have them.
So when you say Texans are spending as much as they make.. well, many are investing, saving for retirement, or taking advantage of having to work less (or have a spouse not work). I'd say that's pretty opposite of a rat race.
Exactly! This is what I was trying to explain but it doesn't matter, people like User are too busy thinking they live in the best place in the world (CA), meanwhile droves of other Californians have "figured it out" and are tired of THE RATE RACE and moved here to Texas to live like kings and queens. Sure, they have to give up the ocean and perfect weather but they live a much higher quality of life. Yes, even without the world class museums.
My wife doesn't even have to work but she does so we can sock away all of her pay to retirement/savings, not to mention the extra left from my pay. Meanwhile many on the east and west coasts need both salaries just to pay their house notes and other bills.
See description of rat race below:
The increased image of work as a "rat race" in modern times has led many to question their own attitudes to work and seek a better alternative; a more harmonious Work-life balance. Many believe that long work hours, unpaid overtime, stressful jobs, time spent commuting, less time for family life and/or friends life, has led to a generally unhappier workforce/population unable to enjoy the benefits of increased economic prosperity and a higher standard of living.
For my parents, living in Texas meant my mother did not have to work. It also meant they could, and did, retire at 55 -- even after putting 3 kids through college.
And you can find the same in any area.
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Originally Posted by atxcio
So when you say Texans are spending as much as they make.. well, many are investing, saving for retirement, or taking advantage of having to work less (or have a spouse not work). I'd say that's pretty opposite of a rat race.
Yes I'm sure "many" are and "many" are doing the same thing in California, but on average Texans out spend everyone.
A "rat race" is a state of mind, it has nothing to do with where you live. The real estate bubble in California had nothing to do with a "rat race" and the same events occurred in areas with similar dynamics.
Exactly! This is what I was trying to explain but it doesn't matter, people like User are too busy thinking they live in the best place in the world (CA), meanwhile droves of other Californians have "figured it out" and are tired of THE RATE RACE and moved here to Texas to live like kings and queens.
Naturally, you are ignoring the actual issues. Firstly, I dare you to find any post here on city data where I suggest California is "the best place in the world". Secondly, the actual issue is how much the amenities in California are worth to a particular family/individual (the same goes for businesses).
Your comments here just glib, you pretend as if those that moved to Texas have figured out something important. No, rather they have a different set of priorities and desires. Some people are much happier living on a small condo on the beach rather than a big home in Texas. This person is not in a "rat race" because he lives in a smaller home.
Quote:
Originally Posted by ufcrules1
Many believe that long work hours, unpaid overtime, stressful jobs, time spent commuting, less time for family life and/or friends life, has led to a generally unhappier workforce/population unable to enjoy the benefits of increased economic prosperity and a higher standard of living.
Yep, and yet you've primarily focused on monetary matters. Texas has some of the worst commutes in the country (Dallas and Houston rank one of the worst), Texas is very oriented around consumption (the biggest spenders in the nation), Texas has the largest collection of McMansions I've ever seen, etc. Sounds a lot like a rat race.
Anyhow, Texas is not some utopia it simply has cheaper house prices. To what degree that matters completely depends on the individual/family under question. As I've said before, I can see how some people find Texas to be an attractive option.
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