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Tremendously is relative. Austin and SV real estate prices are not close at all. High property taxes keep home prices lower across almost all of Texas. Austin
by nugget 12y ago
Tremendously is relative. Austin and SV real estate prices are not close at all. High property taxes keep home prices lower across almost all of Texas. Austin prices are limited in their 'irrational exuberance' upside since there's no way to finance a property tax bill and existing homeowners start to suffer. California is the opposite with low tax rates and proposition 13 covering existing homeowners - perfect conditions for price speculation.
- s73v3r 12y agoThe real estate prices aren't close, but what about salary? What about the real estate price relative to salary?
- hkarthik 12y agoThe salaries in neither area match up to current housing prices, nor do they keep up with the increasing prices year over year. What I have observed is that housing prices going up by 20% usually results in salaries only going up by 8%. After 5 years, houses cost twice as much but salaries are only 40% higher. And to see those salary gains you have to switch companies and risk being labeled a "job hopper". The game is rigged for developers in most of the tech hubs. There is a reason so many of us opt out of it by working remote in low cost areas.