Fastest Growing Millionaire City

[LVVR]

Las Vegas is also a fast growing place for million dollar real estate.

[charlieh]

What are property taxes like in Houston?  Coming from NY they are a nightmare.  Up here in the "frozen north" there are nothing but costs.  That may not make me move to Texas, but Florida is looking more attractive. 

[Bluemoon06]

Property taxes are high here.  We have high property tax but the school taxes are higher.  School tax is around 1.5% all by itself.  Then we have MUD tax (municipal utility district) etc.  All told you are probably looking at around 4% of fair market value.  But we don't have income tax.

[Bay Area Brian]

Amazing the price of oil climbs and there are more millionaires in Texas, Gouging must be good for business. Besides I spent a week in Houston and it was the longest year of my life. Besides the red tape required from Mexico City is overwhelming whenever you want to do something, living in the Colonies De Norte Americana and doing business isn't easy, all those bribes, etc. and being a gringo doesn't help.

On the serious side, I avoid most newscasts now days, Just can't stand to watch the dumbing of America any longer. I Just heard about that proposed pipeline from Canada to Texas, can anyone explain to me why the pipeline has to go to Texas, wouldn't it be smarter to build a refinery in say Detroit and create new jobs there, and forget the rest of a truly unnecessary pipeline, or is it a case of the lobbyist put out the required influence money, and the job offers for after the bribed lose office, and they want results now.

[Bluemoon06]

The main problem with the pipeline is the capital it costs to build a new refinery is not justified.  Oil companies can’t really get their minds around the fact that they have 3 different businesses.  They have exploration and production (getting the oil out of the ground and moving it down stream), retail (gas stations and tiger marts) and downstream (refining and distribution).  Of the 3 businesses they like and understand the first 2 because the margins are huge and it is like printing money and they make money despite themselves.  On the other hand the third business downstream refining is more like chemical manufacturing.  The margins are like those of a normal business and require actual management.  They see refining as a drag on profits and only do it where it is required.