RocketMedic
Californian, Lost in Texas
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Yes, but another factor was the extremely generous and unsustainable retirements that those states had in certain municipalities. I see some Larger Texas cities starting to head this way, although our housing market has not crashed. Who knows what will happen in 20yrs. With the more the retirements grow, the harder they will be to sustain in hard times. And hard times WILL come, they always do.
Texas is a state that has historically weathered depressions by virtue of its energy and transportation sectors.
Resurgences in the national economy generally mean economic downturns in the Midwest.