https://redf.in/tE6KnI Listed since fall 2023 and still not sold.
Austin is housing crash ground zero. Investors there are utterly fked
How fked are we talking here?
Demand is again exceeding supply so... Not at all unless you bought at the literal peak. Even then you probably only need to wait 5 years or so.
Who wants to live in Austin lmao
I don't know, ask the 2.06% of the population who moved here last year?
2.06% the population of what? 2.06% population of the USA is over 6 million and they sure AF don't have that large a population in Austin. Qualifiers matter.
The main people moving to Austin were those tax sheltering their high income whether it be due to investments or an amazing remote tech job. Remote tech jobs are dwindling, people getting laid off, investments falling in 2022, etc, caused people to leave. I usually think the real estate market lags in comparison to stock. But tech stocks are now at ATH, Nvidia has a massive presence in Austin. I guarantee that by eoy Austin prices are going to be at ATHs once tech starts hiring again
I also think Austin housing price can go a lot higher once tech starts hiring. But what if big tech decides to move away from Texas and back to California, and remote is no longer allowed?
That’s not austin?
North Austin. Same difference. Still 45 min commute downtown
North Austin might as well be a separate city. Could be any flyover city too. Always cracks me up when people move to far north Austin and b*tch about Austin.
Do not follow if it sounds like everyone is escaping from Bay Area and all move to Austin for better life.
Man you people really hate Austin
They're just immature and projecting their fear of losing value in their shitty bay area shoe boxes with a one and a half hour commute.
I live in the area in a 2800 sqft 6 bedroom house. Not everyone lives in a shoebox.
Do you live in Austin?
It was insanely pumped up by tech people moving in. Now that’s completely stopped.
2.06% population growth in 2023. I don't think it's stopped bro
They have a development friendly government. Basically infinite new supply available long term. Home prices can't moon if there's infinite supply
SFHs close to the city center will become a scarcer and scarcer commodity though.
That's true. But far away sfh in the suburbs and condos will have limited upside.
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Nobody wants to live in Austin
Even VCs who can afford million dollar estates are heading back to SF
I mean I like Austin but it's pretty boring and doesn't even hold a candle to life on the West Coast in terms of things to do