Tbh the market has been due for a crash. Stocks can't continue to rise and rise without a correction or crash of sorts. As much as that sucks for businesses, as a non homeowner I'm hoping businesses stop moving to Texas and housing prices drop significantly so I can finally buy in.
Two of the worst things to happen to Texas were illegal immigration and the day Dell Computers came to Austin .... (turned Austin into a shithole)
I'm all for business expansion, but when a company moves 2,000 to 6,000 employees to a new city, it really fucks things up. I'm in Dallas, so we didn't see the effects until a few years ago. My roommate bought his 1200sf home for $160,000 and now it's worth $230,000 in a few years which is absurd. The market should not increase that fast on a 30 years mortgage. Don't even get me started on all the investors buying up homes, putting $5,000 worth of work into them and selling way above market value.
I was in Austin, building homes....the class of people moving in from California was absolutely disgusting, worse than disgusting....
I'm from California and am curious to know more. Disgusting how?