The once-booming tech haven of Austin, Texas, is now leading the pack in the fastest-falling home prices across the nation, according to a new report.
Thanks to sky-high mortgage rates and cooling demand, Austin’s property values took a 3.5% nosedive over the past year, outpacing the top 100 markets in the US.
Austin’s recent years of skyrocketing property values were fueled by a booming tech industry and attractive low state taxes.
However, those glory days seem to be fading.
CoreLogic’s latest report paints a picture of a nationwide cooling in the housing market, with Austin being the most dramatic example.
_Vcsgrizzfan_ wrote: ↑Thu Aug 01, 2024 11:37 am
I couldn't care less, but 3.5% after what I believe was a pretty huge run is hardly a "NOSEDIVE". Seems a silly headline.
The home I live in cost 150,000 in 2011, now worth close to 400K. Thanks for the post.
bought my house for $240k. It was valued at $500 at the peak. Now probably about $420k, but it will start to move back up once interest rates come down. SpaceX/Starlink opened a massive factory here. My area is about to be booming.
Lol at madness thinking value will boom when in reality it will go down drastically due to overruling and oversaturation. Not to mention more trash people and traffic and congestion
Yeah a real win there guy!
elartman1973 wrote: ↑Fri Aug 02, 2024 4:45 am
Lol at madness thinking value will boom when in reality it will go down drastically due to overruling and oversaturation. Not to mention more trash people and traffic and congestion
Yeah a real win there guy!
Fucking moron
More people in an area means more demand for homes. You don’t seem like you know anything about real estate TBH. Do you even own a home?
More people in an area means more demand for homes. You don’t seem like you know anything about real estate TBH. Do you even own a home?
Artman previously claimed to buy a home at age 24.
I'm not sure if I believe him.
He’s most likely lying. IIRC he was renting someone’s guest house or whatever, and then we gave him shit for being a renting loser so he changed it up to how he has been buying real estate for years, and he’s actually the very best at buying real estate.
ElJorge wrote: ↑Fri Aug 02, 2024 12:39 pm
He’s most likely lying. IIRC he was renting someone’s guest house or whatever, and then we gave him shit for being a renting loser so he changed it up to how he has been buying real estate for years, and he’s actually the very best at buying real estate.
He included it in his list of life accomplishments:
Buying a house at 24
Selling a house a 30 and pocketing bank
Working on very cool movies that I'm still a fan of.
Meeting several famous artists that I admired
Moving from new Orleans during Mardi gras...a huge accomplishment
Finding my dream girl twice...(2 different women)
Living on my own at 16 years old
Traveling the globe alone on my own dime in my mid 20s
Saving a guys life in 1999 and I just found out I did that like a year ago when the guy finally found me...was surreal...didn't know my words saved his life...
Becoming addicted to running daily and losing all my baby fat and getting cut like an Adonis.
Overcoming my severe back problems
Having all 4 wisdom teeth pulled at the same time
Being the only one with my dad the moment he passed away...he was literally waiting for me so he could let go...
Giving my little sister away at her wedding in my fathers place...
My best mans speech at my brothers wedding
My best mans speech at my buddy Mikes wedding in Napa Valley
Making my way from Penn Station to Williamsburg with luggage in the 2003 blackout
Banging the southern belle on the train to Baltimore on Halloween
Father hood
Becoming a godfather and meaning it
Having my brother admit traits he admires in me that he doesn't possess that my dad and I do...at dads eulogy...
Selling my first painting after college...
Supporting myself for 2 decades with my skills and talent..
Quitting smoking twice
Winning the Best of Ringling Jurors Choice award...very big deal...
Getting and banging a Chick from Finnland while I was in Lucern Switzerland...despite neither of us knowing each others languages.
Landing a dream job right after 9/11 when the nation basically had shut down
Surviving boarding school and not being kicked out for dope distribution...they could never catch me
Surviving 4 direct hit hurricanes within 2 weeks and living and flourishing without power for 3 weeks.
ElJorge wrote: ↑Fri Aug 02, 2024 1:01 pm
Kinda weird that Tits listed “father hood” but now if you ask him if he’s a father he claims it’s none of our business.
I recall pointing out that it was strange he listed "father hood" lower on the list than having all four of his wisdom teeth pulled at once.
I got new neighbors. This young couple just bought at $710k. Seriously. You guys remember when my wife and I bailed from Brooklyn in 2014 and bought for $345k? Well house price has doubled. And this is queens
Check the method from Bedrock, 'cause I rock your head to bed
AtiliusRegulus wrote: ↑Fri Aug 02, 2024 1:06 pm
I got new neighbors. This young couple just bought at $710k. Seriously. You guys remember when my wife and I bailed from Brooklyn in 2014 and bought for $345k? Well house price has doubled. And this is queens
I bought a condo in California for $210K in 2008 and sold it for around $325K in 2015 IIRC… and now it’s worth $500K or some nonsense. Oh well… my current home has a lot of equity so it doesn’t chap my ass that badly.
I bought my house on my 26th birthday for I think around $235k or something like that.
Just closed escrow at the beginning of June…$1.5 Mill…Austin ain’t rolling like that.
I been to Austin 3 times in the last couple of years because one of my best friends moved there…There are some
Decent restaurants, and I always like to see the Willie Nelson Statue. I have said this before, and if you are from California, you will understand, but it is a cheap imitation of Silverlake…Bunch of rednecks trying to be hipsters…
AtiliusRegulus wrote: ↑Fri Aug 02, 2024 1:06 pm
I got new neighbors. This young couple just bought at $710k. Seriously. You guys remember when my wife and I bailed from Brooklyn in 2014 and bought for $345k? Well house price has doubled. And this is queens
I bought a condo in California for $210K in 2008 and sold it for around $325K in 2015 IIRC… and now it’s worth $500K or some nonsense. Oh well… my current home has a lot of equity so it doesn’t chap my ass that badly.
I feel sorry for those young couples who have regular jobs. theres no way they can get starter homes in this market making a total household income of $150k. both parties need to make above $100k, and that is for a starter home.
Check the method from Bedrock, 'cause I rock your head to bed
elartman1973 wrote: ↑Fri Aug 02, 2024 4:45 am
Lol at madness thinking value will boom when in reality it will go down drastically due to overruling and oversaturation. Not to mention more trash people and traffic and congestion
Yeah a real win there guy!
Fucking moron
More people in an area means more demand for homes. You don’t seem like you know anything about real estate TBH. Do you even own a home?
I know more than anyone here as my city has numerous empty dwelling as a result of overbuilding and more people. Demand is high at first then it drops as places sit empty. And traffic and people everywhere
It's not something anyone here wanted and acting like its a plus is utterly stupid
Duh
