Yeah, prop tax is much much higher in Texas and also, with so much land, I don’t think Texas is as good of an investment in terms of housing, also without prop 13 that we have here. I don’t think prop 13 would ever go away completely for primary home buyers even though they may try to change it, but with businesses and the wealthy controlling all the laws, it’s unlikely anything will ever change IMO).
My parents have places in TX and they said that they’d lose money if they were to sell the place they bought and are renting.
CA with Prop 13 is a very unique state (are we the only 1 in the country?) so if people move to Texas or Nevada, or wherever, I don’t think they would ever move back to CA due to the much much much higher housing cost.
Not to mention prop tax would be higher if they bought a new place compared to the one that was sold.
Overall, I think if your income is super high, then no state income tax can make a big difference. We know dual income doctors making mil+ in a tax free state and I can see why you’d want to do that, but if that wasn’t you, then I don’t think the numbers are that great assuming you buy something not super great in CA.
A high mortgage is also a greater tax deduction if you are high income in CA so that 3k mortgage compared to TX may actually end up being 2k/month where in TX, you may be claiming the standard deduction.
