Bro.. My mom bought the house I grew up in (middle and high school) for 92K back in 1991/1992. Her neighbor just sold hers for 412k. Sure my mom is gonna get a grip whenever she sells but she's gonna have to move into a condo or something if she wants to stay in the city limits. Hell I been looking for homes and for the size we are accustomed to, it's looking like we well have to settle for outside the city.. then I look at the woodlands outside Houston and I think we get much better bang for our buck. There is a 2800 sq ft house, with detached garage out back and a swimming pool for 370K.. trying to find that in Austin is like 480k.. I obviously need a raise. Any of you rich CA have a job opening for a medical risk adjuster?Desirability. The nicer a place is or just the availability the more people can ask for their property when they sell it. So it's also Austins residences making money off Californians. To be fair. lol
It's kinda weird though. Growing up here there were always New Yorkers moving here for work and I never said or heard people say that they were screwing up the market. If you make enough and you can pay for it then good for you.