Houston has seen a sudden influx, in the past few years, of Californians selling their 1700sf (or less) homes for hundreds of thousands of $s, moving here, and buying themselves McMansions that are double the size and half the price of their previous homes. What sucks is that everything here is becoming a gated community and locations are being referred to by the name of their largest subdivision, which is very sad in my opinion, because of the population boom and need for housing close to the city. However, I can understand the migration. I cannot fathom how people were able to afford their $300,000+ houses in S.F./L.A./etc. (and food, gas, etc.) in the first place, on good old middle-class wages. I assume "middle class" wages in S.F. are higher than in what is considered "middle class" in Houston. But still...Sub-prime?
And this would be why we do not live in CA, despite Mr. Jack's work calling him there from time to time.
This is what has happened to housing in Austin as well, but obviously on a lesser scale than SF. We've seen many from the west coast come in, flush with cash from the sale of their CA or OR home, and purchase whatever they want here. In part this is what has driven up the real estate prices.
Unfortunately, Austin is experiencing the same middle-class exodus from the heart of the city that many other large cities are feeling. We bought our house in a neighborhood on the outskirts of town with good schools 9 years ago for $100K less than what it would sell for now. We are hunkering down until our kids leave (assuming they survive the changes in our public school system), because anywhere we would want to live right now that we could afford would put us in crappy school attendance zones.
It shouldn't be this hard to be middle class. It just shouldn't.
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Houston has seen a sudden influx, in the past few years, of Californians selling their 1700sf (or less) homes for hundreds of thousands of $s, moving here, and buying themselves McMansions that are double the size and half the price of their previous homes. What sucks is that everything here is becoming a gated community and locations are being referred to by the name of their largest subdivision, which is very sad in my opinion, because of the population boom and need for housing close to the city. However, I can understand the migration. I cannot fathom how people were able to afford their $300,000+ houses in S.F./L.A./etc. (and food, gas, etc.) in the first place, on good old middle-class wages. I assume "middle class" wages in S.F. are higher than in what is considered "middle class" in Houston. But still...Sub-prime?
And this would be why we do not live in CA, despite Mr. Jack's work calling him there from time to time.
This is what has happened to housing in Austin as well, but obviously on a lesser scale than SF. We've seen many from the west coast come in, flush with cash from the sale of their CA or OR home, and purchase whatever they want here. In part this is what has driven up the real estate prices.
Unfortunately, Austin is experiencing the same middle-class exodus from the heart of the city that many other large cities are feeling. We bought our house in a neighborhood on the outskirts of town with good schools 9 years ago for $100K less than what it would sell for now. We are hunkering down until our kids leave (assuming they survive the changes in our public school system), because anywhere we would want to live right now that we could afford would put us in crappy school attendance zones.
It shouldn't be this hard to be middle class. It just shouldn't.
Yeah, NYC is no picnic either. My doorman commutes to/from PA.
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