[quote=DWCAP]
The whole story isnt evident in places like Fresno, or Bakersfield just by saying it is flat, hot and no ocean. Those places boomed becuase of the unaffordable prices in SF or LA. People were willing to commute 90 minutes or more, each way, to own their houses. Those cities bubbled because of coastal unaffordability, which is in part due to mountains and oceans restricting building space. [/quote]
Although you might assume that demand went up, which drive up prices, in Fresno, Bakersfield, etc. due to people from LA/SF commute, but Dalas, Houston, etc are also large cities with great job markets too. Didn’t population in that area went up too? I don’t think people who actually buy, live, and commute from Fresno/Bakersfield/etc are enough to affect the prices. It’s more of the speculator that drove up price. The question then becomes, why didn’t speculator do the same thing over there? Only thing I can think of is tax and supply.
