Texas - what the hell - huge budget crisis

murray t turtle · Mar 21, 2011

Quote from EMRGLOBAL:

So who can explain this:

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I can. I have lived in Texas for about 5 years or so.

First, there was a bubble in the RE market. You have to know your region. I bought two lofts, both 3500 sq feet. One is downtown SA near the River Walk, the other is Downtown Atx on 2nd st.

My SA loft has appreciated a little but my ATX loft is up almost 20% in two years. Look at "RE" for sale in DownTown Austin. Most of it is starting at 350k for 900 sq feet up to 1.1 for 2400 sq ft. It's over priced and it will crash.

Bottom line, if you live in Texas and are W2 your not making much compared to the same job elsewhere. Thus, many need assistance. Look at the % of working middle class on Food Stamps.

Second, there is no state tax. Good for me but bad for the State.

Third, the overpopulation of Mexican immigrants, both Illegal and legal. They have extended families, 17 year olds having kids, no job, low education..etc. Who do you think pays for this?

Bottom line, Living in Texas is great if you have money. Otherwise, it is like the rest of the country. The "Depression" orGreat Recession that has been declared over, lol, is now hitting Texas harder. There is a lag time of about 2 years and that is now coming to an end.
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Good points Emr;
not that ''no state tax'' is bad, actually its good. Assume you mean'' state income tax;
TN does not have any state income tax either.

Simply too much gov spending, for the reduced gov income;
schools in TN have added huge % of [un needed]school managers/middle managers over the past decades......................................................................

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Texas - what the hell - huge budget crisis

murray t turtle