Reply #41: those wads of cash came from selling their overvalued homes in CA [View All]

[fleabert]

can't tell you how many people I have met here that sold a house in CA and bought in Austin or San Antonio with the cash. some bought two houses on the same street, live in one and rent the other. Since you can buy a great home in TX for under 300,000 and most houses going for at least 600,000 here- it makes sense to do it.

if anyone invested in a house ten or more years ago in the Bay Area, they have more than tripled their investment in most parts. It's crazy. Good friend of mine bought her house 9 years ago for 125,000- it's valued at 750,000 now.

holy crap.