Real estate sector Going Downhill? (Austin, Spur: rent, how much, buying a house)

[ParaguaneroSwag]

I remember when the hilly, suburban parts of Austin were very hot in the market. But now it seems developers have looked downhill to the lower elevation portions in the area for new development. And not just in the city but the suburbs too

[Need4Camaro]

It took awhile because of the supply shortages but after they finally got them houses built, those hills no longer had a scenic view.

[Ivory Lee Spurlock]

I wonder how much all the layoffs in the high tech industry will effect the Austin housing market.

[Need4Camaro]

Originally Posted by Ivory Lee Spurlock

I wonder how much all the layoffs in the high tech industry will effect the Austin housing market.

Not sure, probably will have an impact but don't know if it will have a significant impact. I think most tech workers are priced out of buying a house currently unless they have a significant savings or they are high ranking. That plus many of the younger techies rather rent in downtown... ...I think people who are buying are people who are evading the high interest rates by using their equity from their more expensive home or using equity plus savings.

[Need4Camaro]

Originally Posted by Ivory Lee Spurlock

I wonder how much all the layoffs in the high tech industry will effect the Austin housing market.

After you brought this up, this appeared on my Google Discover:

https://www.bizjournals.com/austin/n...t-ranking.html

[ParaguaneroSwag]

Originally Posted by Need4Camaro

Not sure, probably will have an impact but don't know if it will have a significant impact. I think most tech workers are priced out of buying a house currently unless they have a significant savings or they are high ranking. That plus many of the younger techies rather rent in downtown... ...I think people who are buying are people who are evading the high interest rates by using their equity from their more expensive home or using equity plus savings.

Originally Posted by Need4Camaro

After you brought this up, this appeared on my Google Discover:

https://www.bizjournals.com/austin/n...t-ranking.html

First off, we’re getting off topic.

Second of all, I don’t think this source is that valuable. It’s a survey. The real results of the layoffs in Austin will be seen in months down the line when the job and GDP data get released.

As of now, it’s hard to tell how much of the slower moving housing market in Austin is a result of the macro economic environment and how much is tech slump based. Most likely, it’s some sort of mix of both. My personal thought: I don’t see properties losing value. Atleast not any time soon (no one can predict a national housing crash with certainty). But the year to year growth will cool down. As I mentioned, it’s not all about the local economy. The national environment has role as well.

That said, this has nothing to do with the real estate sector going downhill unless there’s less tech workers that can afford their suburban hill side home and have to resort to view the hills from below.

[DCtoTejas]

Did the HEB thread really cause this much butthurt?

[cheeva]

Originally Posted by DCtoTejas

Did the HEB thread really cause this much butthurt?

more like H.E. Butthurt

[ParaguaneroSwag]

Originally Posted by DCtoTejas

Did the HEB thread really cause this much butthurt?

Yes it did. Our tears might just be the driving force that makes the Colorado River go downhill these days.