“I lived in Houston for 5 years, and it is indeed amazing what you can buy there compared to pretty much anywhere in Canada.”

Krazy Kanuk at vancouvercondo.info March 8th, 2011 at 12:28 pm
“Texas is a subject near and dear to my heart. I lived in Houston for 5 years (left about 6 years ago), and it is indeed amazing what you can buy there compared to pretty much anywhere in Canada.
I agree with
[previous VCI poster] patriotz regarding property tax keeping a lid on prices. It’s roughly 3.25% a year in Texas. There do exist million dollar houses there, but it’s rare. You would pay almost $3K a month in taxes on it. I think it’s a better system. The high (percentage wise) property tax rates help keep prices stable. You can get a nice house there for $150K, and pay about the same taxes (in dollar amounts) as here in Vancouver. You can get a very liveable small older house for $70 to $80K. Oh, and you could rent out that house for $1200 to $1500 a month.
Having said this, I guess nothing can completely fix stupid. During the early 80′s, even Texas had a property bubble because “we have oil” (sound familiar??). If I remember correct, real prices still haven’t recovered.”

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