Foreigners bought $18.7 billion worth of houses in Texas in 12 months

[corbe]

Foreigners bought $18.7 billion worth of houses in Texas in 12 months
 
Written by Steve Brown

Foreign homebuyers are taking a big bite out of Texas' hot housing markets.

International buyers purchased 34,135 Texas homes during the year that ended with the first quarter, according to a new report by the Texas Association of Realtors.

Offshore home buys in the Lone Star State added up to almost $18.7 billion during the 12-month period, according to a new Realtors report.

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https://www.dallasnews.com/business/real-estate/2017/08/15/foreign-homebuying-binge-drives-187b-texas-sales?utm_campaign=Echobox&utm_medium=Social&utm_source=Twitter

[IsailedawayfromFR]

I found out after living in California how cheap real estate is here in Texas when I moved back.

Smart, to get out-of-staters to pay our real estate taxes.

[Oceander]

I found out after living in California how cheap real estate is here in Texas when I moved back.

Smart, to get out-of-staters to pay our real estate taxes.

Yes, but by driving priced up, they also drive up everyone else's real estate taxes. 

[IsailedawayfromFR]

Yes, but by driving priced up, they also drive up everyone else's real estate taxes.

So you assume that they paid above market price?  How so?

[Elderberry]

So you assume that they paid above market price?  How so?

Californians, housing demand driving up Austin home prices

http://www.kvue.com/news/investigations/defenders/californians-driving-up-austin-home-prices/396030496

AUSTIN - The American dream of owning a home may be slipping even further away for many people in Austin. The KVUE Defenders have been investigating the issue and found that while the sky seems to be the limit for home prices in the city; salaries can’t keep up and it’s pushing people out of town.


It's tough not to blame everything on the 160 people who move here every day, and for some they blame California. A recent study looked at where all of the people moving here are coming from and it's primarily California.

“We're not more entitled to live here just because we grew up here, but I think if we want to preserve what is special about Austin, then we have to consider the types of people and values and passions that made it special,” said Joi Torres.

The reality is we all play a role in what happens in real life. And yet sometimes it's all a gamble -- risk versus reward and the end result is anyone's game.

[IsailedawayfromFR]

thx.

No time like the present to be 65.