Re: Real Estate and Recovery
mInvestor
8/5/2012 4:44:51 PM
Drivewaygirl and TelecomFreq,
That's so true. However, millions of young people and immigrants pouring into those mega cities for better opportunities. Will they regret it? Hard to say. Most of them will stay in those mega cities once they finally settle down for something.
The impact of new Energy fields helps, but there are bigger factors. Austin, for example, is #1 on the list and the Austin economy is more about high-tech and innovation.
On the cultural topic, I was part of a corporate relocation from NYC area to the fly-over zone. At first, we all feared the loss of NYC culture would be too much to bear.
However, none of us were really participating that heavily - maybe a couple of Broadway shows a year or a day at the museums each season. The savings on housing costs more than makes up for this - even enough to cover a few round-trip flights back to NYC, if that's how you want to spend your money.
PC
Wow, at a glance it sure looks like Texas is the place to be! Wonder if people are fleeing there for a cheaper cost of living as a result of having to start over after the Recession.
On the other side of the coin, it looks like a LOT of California exurbs are on the disabled list after being WAY overbuilt in the years before the crash. It's probably simplistic but I'll bet a glut of unsold or foreclosed housing stock correlates pretty well with the cities lagging in the recovery.
Re: Real Estate and Recovery
TelecomFreq
7/24/2012 9:03:42 AM
@Drivewaygirl, thats a great point, I know when I lived in Boston I was working mostly to pay the rent and maybe put a little food in my belly, but I was working for a startup so its not like I had much time to do anything else anyway.
Re: Real Estate and Recovery
TelecomFreq
7/24/2012 9:02:01 AM
Its so true, when I lived in Boston, life was always on the move and it was so expensive, The other upside to living in the middle of the country is that I know have more money to invest ;-)
Re: Real Estate and Recovery
Drivewaygirl
7/24/2012 8:13:47 AM
You know, it's a big country, with plenty of places to live and work. Why most of us insist on settling in over congested areas is beyond me. We say we want to live in one city or another for the opportunities and culture. But say you live in NYC or LA. Do you really have the time or money to enjoy much of anything after killing yourself at work all day just to pay the rent/mortgage?
We had a great quality of life in both Pittsburgh and (suburban) Detroit. Life was easier and there was far more time to enjoy it than life in, say, NYC, where I am now.
Re: Real Estate and Recovery
TelecomFreq
7/24/2012 12:11:14 AM
It's so true Noreen. I grew up in Rhode Island, and even though that states economy is shot, cost of living is still high because it's on the coast. I always thought I would miss the ocean if moved away, but it's not even a factor for me.
Re: Real Estate and Recovery
Value Hiker
7/23/2012 8:06:47 PM
California WAS a promised land. Now it is a questioned land. It was ruined by many things, a major one is proposal 13
Agreed TelecomFreq. You can have a wonderful quality of life for a fraction of the price if you're willing to ease away from either coast.
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