The housing market in Texas is experiencing soaring home prices, leading to concerns about the "Californization" of the market. Longtime residents are grumbling about the influx of Californians and the impact it is having on affordability. Texas, which has long been known for its affordability, is now facing a wave of migration from more expensive areas, including California. The high housing costs in San Jose, California, have also contributed to the affordability issue. The migration from more expensive states has pushed home prices out of reach for many locals, making it a difficult market for first-time buyers. One of the reasons for the high prices is the lag in construction of single-family and multifamily residences, which has not kept up with the demand. This constraint on supply has also contributed to the rising prices.
THE CALIFORNIZATION OF THE TEXAS HOUSING MARKET (WSJ) Migration from more expensive states has pushed home prices out of reach for many locals; ‘a very hard market for first-time buyers’ https://t.co/g9GOVnUyzd
Sky-high housing costs have hurt affordability in San Jose. Here's how much. https://t.co/TA50nX5t7o
'Texas has long had a reputation as an affordable place to live. Now the state is being walloped by pandemic-era migration from California and other more expensive areas.' https://t.co/RjYVbv1VTD
"The Californization of the Texas Housing Market" https://t.co/HYyF7rqoX9 "Another constraint on supply in San Antonio and other Texas cities was that construction of single-family and multifamily residences had lagged behind demand. That also pushed prices higher. https://t.co/VY7ImMoC84
Texas has a problem: Californians keep showing up https://t.co/1O97OJvmmC https://t.co/xNIyXqApe6
Soaring home prices in Texas have left longtime residents grumbling about the Californization of their housing market https://t.co/LYlJFt05cM https://t.co/sQLsLUVBei