General Discussion

Johnny2X2X

(24,210 posts)

14. Migration

Thu Apr 28, 2022, 08:24 AM

Apr 2022

As professionals have more WFH options, they're moving to more affordable areas. While people in this town think $900K is average, the people moving there from Tech centers think $900K is a bargain and will pay that and above without blinking an eye. It's going to be good for local economies, but that's not really going to help homeowners.

Seeing this all over right now and it's not new at all. Even here on Michigan's West Coast we saw lakeshore homes go from affordable in the 60s and 70s to out of reach after people from Chicago decided buying a Summer home on Lake Michigan was the thing to do. Small cottages on the lake went from $50K to $400K rather quickly. And now anything decent sized is $750K+.

Boise Idaho has been absolutely hammered by this type of thing.

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Texas homeowners reeling after property tax appraisals skyrocket [View all] Demovictory9 Apr 2022 OP

Awwww NJCher Apr 2022 #1

They cap out property taxes at no more then 3 percent a year. jimfields33 Apr 2022 #7

Who is they? The cap is 10% in Texas Igirl Apr 2022 #10

I live in Florida. I guess I should have specified. jimfields33 Apr 2022 #12

Well you can edit. Kingofalldems Apr 2022 #32

In 2020 Trump won that county. Play stupid Trump games, win stupid Trump prizes. Celerity Apr 2022 #2

I love DU lindysalsagal Apr 2022 #33

The price that people have to pay to live in a small town TexasTowelie Apr 2022 #3

Thye same thing is happening in Austin, though greenjar_01 Apr 2022 #17

I have more sympathy because without moonscape May 2022 #37

Coming to your town real soon. Aussie105 Apr 2022 #4

Some day homes might only be owned by the rich and rented to us average folk. Ziggysmom Apr 2022 #5

And selling your home for more means you'll probably pay more Buckeyeblue Apr 2022 #8

Not probably pay more. Rents will rocket Igirl Apr 2022 #11

Same in Michigan Buckeyeblue Apr 2022 #13

My niece and her family live in McKinney, mnhtnbb Apr 2022 #6

Sit back, relax and taste the Freedumb! hatrack Apr 2022 #9

Bingo inthewind21 Apr 2022 #24

Migration Johnny2X2X Apr 2022 #14

It went up more than $75K? Does he live in a 4 million dollar home? tanyev Apr 2022 #15

I think the article is poorly written. I suspect he meant the valuation of his home went up $75K. mnhtnbb Apr 2022 #18

Agreed. I wish more reporters knew math. BlueCheeseAgain Apr 2022 #29

Not just a $4 million home, a home whose value increased by $4 million. BlueCheeseAgain Apr 2022 #28

There are multimillion dollar homes in Collin County. tanyev Apr 2022 #30

For reference the Southfork site from.the Dallas series is near Lucas JCMach1 Apr 2022 #16

And 360k would be a bargain for a Californian moving to Tx Demovictory9 Apr 2022 #19

However, the property tax on that home in California is half that in TX. haele Apr 2022 #23

Not true inthewind21 Apr 2022 #25

That 360K is now a 'starter' house... We have lots of CA JCMach1 Apr 2022 #34

in southern Calif. 360k will get a one bed one bath condo. so yeah, California go crazy Demovictory9 Apr 2022 #35

Kick dalton99a Apr 2022 #20

The question is what is the municipality doing with this windfall? Amishman Apr 2022 #21

At least Texas has no state income tax DFW Apr 2022 #22

No, it does not inthewind21 Apr 2022 #26

I'm not confronted with any of that, and don't keep up with it. You'd know the details more than I DFW Apr 2022 #27

Ours are capped at 3% a year unless significant upgrades are done MissB Apr 2022 #31

sounds like Calif with land more valuable than the building. 1500 garage...that's pretty big Demovictory9 Apr 2022 #36