Why is Houston Texas so cheap?

[neverdoanything]

I've been researching housing prices lately, as I'm thinking of buying my first home. I want to stay in Canada, and it would take a lot to convince me to move to the United States. However, I noticed that the housing prices down in Houston Texas are ridicoulously cheap!

Condos for $30,000! Decent homes for $50,000. Great homes for $100,000!

What's the catch?

[pitz]

I'm going there next week, but Texas traditionally has been fairly inexpensive for just about everything.

What areas are you looking at in particular?

[Dealz-4-U]

i would assume because its in some sort of danger zone? Hurricanes, etc... For example maybe your insurance might be the same as a mortgage payment.. Its an exaggeration but you know what I mean. :lol:

[kuqdew]

really?

[Raggie]

I know an acquaintance who lives in Dallas and has a decent job. He owns a 3,000 sq.ft. home and is looking to buy another one. Housing is very cheap over there.

[the_fm]

i'm too lazy to read through all the posts so i'll post the link instead, http://www.city-data.com/forum/houston/121185-why-houston-so-cheap.html

[CSK'sMom]

And don't forget the housing meltdown currently in the US. Lots of folks are mortgaged for far more than their homes are currently worth and lots of short sales going on...

[watodo]

go live in Sugarland, Texas

3rd best city in the US
5th safest in the US

http://en.wikipedia.org/wiki/Sugar_Land,_Texas

[ItemFinder]

The state is rich due to oil, just like Alberta is rich.

[neverdoanything]

The state is rich due to oil, just like Alberta is rich.

But Alberta is expensive as hell... seems like Houston is cheap as hell

[nolimtzel]

doesnt GWB own a ranch in texas?

[kuqdew]

doesnt GWB own a ranch in texas?

who cares

he's probably got ranches in every state

[whampoa]

doesnt GWB own a ranch in texas?

Yes, do you know where's located at, Waco, Texas.

Home of David Koresh, former head of the Branch Davidian Sect.

Apparently, there's more than one waco living in that town.

Back to cheap housing, lots of cheap house abound if you don't mind living in the burbs or less desirable location.

If you are going to work in Texas, might as well find a place to live.

Regardless, of housing price, there's always a trade off between wages and standard of living.

[najibs]

San Antonio isn't bad either. I remember back in the early 90's when I lived there, my parents got out first home, a 4 bedroom detached home that was merely 3 year old for just over $103,000, ina nice neighbourhood.

Here in Ontario for that same home, I'd estimate it would cost $350-400k , in the GTA.

I'm sure prices have changed since then, but Texas apparently isn't all that expensive. At least not like living in Miami, Fl, where everything is expensive.

[kuqdew]

San Antonio isn't bad either. I remember back in the early 90's when I lived there, my parents got out first home, a 4 bedroom detached home that was merely 3 year old for just over $103,000, ina nice neighbourhood.

Here in Ontario for that same home, I'd estimate it would cost $350-400k , in the GTA.

I'm sure prices have changed since then, but Texas apparently isn't all that expensive. At least not like living in Miami, Fl, where everything is expensive.

Najibs, you're american? :-0

[feelthedeal]

Yeah, my friend from Dallas said he just bought a 4 bedroom house for $140,000 there (about 10 years old).

[najibs]

Najibs, you're american? :-0

No, but I did live in Texas and Florida in the early, and then late 90's for a couple of years.

[vaderschariot]

No income tax in Houston...........$15/hr is $15 per hour on your paycheck

[Nikita]

No income tax in Houston...........$15/hr is $15 per hour on your paycheck

Well, not exactly, there are Federal taxes, just not State taxes.

[najibs]

Well, not exactly, there are Federal taxes, just not State taxes.

In Oregon there's no sales tax.

[whampoa]

No sales tax states,

Alaska, Delaware, Montana, New Hampshire and Oregon

Among the sales tax states, counties and municipalities can add their own sales taxes, so comparisons are difficult between states.

No income tax states,

Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming -- don't have income taxes, and New Hampshire and Tennessee have income taxes on just dividends and interest.

[Kommander_KornFlakes]

-
I lived in Houston,Texas for several years, yes those prices are for real, and the weather is nice and the city is super-modern and as big as Toronto.

The catch? Jobs pay cheap, you are earning "a lot" if you are making $12 an hour.

Also 50% of all cars in the road are Ford pick-ups with .303 hunting rifles on racks in the back windshield.

[hi-tech]

My cousin stayed with me for 4 months during last year from Houston. He was astonished at how insanely expensive housing was. He said my house, valued in Mississauga at $750K would be worth MAX $150K in Houston. Also told me Sugarland is almost exactly like Mississauga lol.

[Nikita]

In Oregon there's no sales tax.

But just like Texas, there are Federal income taxes, which is what vaderschario was referring to. All states are subject to Fed income taxes. Feds trump States.