[dehrmann]

> It’s the world’s fifth largest economy

You're comparing $3.9T to $2.4T, but that's still not the metric you look at. It's whether you're a landlord in a town of 5,000, a mid-sized city, or a 2M metro, and what the local economy looks like.

> California vacancy rates speak for themselves

This goes two ways. On one hand, it's an opportunity. On the other, it's an opportunity a lot of people clearly don't want to take.

> Texas also has the nation’s 7th highest property tax rate

As long as it's consistent and the regulators allow it, you just pass it on to tenants. CA's Prop 13, while making overall property taxes lower, puts you at a weird disadvantage compared to incumbent landlords.