[quote=AN]CAR, question is, have you been to Fresno, Sanger, Barstow, Bakersfield? There are A LOT of flat usable land there too. I can bet you there’s more land in Fresno ready for development than Dallas or Houston or Austin. There are A LOT more high paying jobs in those TX states than Fresno, Bakersfield, etc. Yet, how come property price is cheaper in those TX area than even Fresno?
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In Texas, there’s no state income tax. But the property tax is higher. Effectively, the state income tax is included in the property tax.
This has the effect of discouraging speculation. If a John Doe owns 1 primary residence & 3 rental houses, he is paying much more than his share of state income tax.
I think one of the reasons that home prices in Fresno, Sanger, Barstow, Bakersfield are higher than TX is because they are within commuting distance to high prices areas.
Believe it or not, many people work in the bay area & live in Fresno.
Another factor: since prices in LA, SF, SD are so high, the prices in the surrounding areas are also “lifted” because many retirees sell homes in LA, SF, SD & move 80 miles away to benefit from the low prices and still be close to their families.
