The real estate market in Austin is hot to say the least and the forecast seems to be even hotter 🤓
Look like BP doesn't allow video links :/
What website? I'd like to hunt it down.
That is absolute insanity if it does do that
@Robert Eyers just sent it to you
Just a bit misleading.... it says 30 - 40% by 2024.
Also it would be good to see how past 5 year forecasts have landed to trust this one.
Love to hear this. Thanks for sharing this information. Do you have a link? @Neil Narayan
I hope no one is banking on 30 - 40% appreciation as an investment strategy. That didn't go so well in 2007.
Good deal. Thanks for letting me know @Neil Narayan
I hope it's not gonna happen because we want to move to Austin and buy a house here in a couple of years! :)
anyway, the market right now seems so crazy and unpredictable because of Covid and lack of inventory.
@Neil Narayan can you MP the youtube link?
@Neil Narayan thanks for the video. I actually tend to agree here. I know people are worried about a repeat of the housing bubble but the issues are different today. Regardless, the things described in this video is on point in regards to schools, jobs, restaurants. Austin home values are still laggin even after growth.
The tag line in 2007 was also “it’s different this time”. There is no denying that Austin will grow but 30 - 40% annual appreciation predicted by click bait media is not one to rely on.
@Neil Narayan Austin is TOO TOO HOT!!! 🔥 🔥 🔥
I hope it doesn't become the new west coast!!!
@Neil Narayan PM me the link if you don't mind. As for the 30-40%, it sounds like that was in the next 3 years or so. 8-10% appreciation is not that far fetched and we have definitely seen it in the past. As for the worry of the housing bubble, hopefully y'all know by now that Austin prices fell only 1.9% during the housing crisis and were back beyond its peaks 15 months later. So the time to buy in Austin if you plan on moving here or investing here now or 5 years from now is now. You just will pay more later on. 40 years of data to back that up.
@Justin Thorpe understood but it’s not a vague statement. 2007 had people buying homes who didn’t qualify and fraudulent approvals. Lending qualification is much tighter now and people aren’t exactly going to be walking away from homes they put money down on.
While I get the west coast joke, I’d say without mincing a word that it is every realtors wet dream (in Austin and in most tier 2 cities in the country) that their local market behaves like how west coast markets have behaved in the last 10 years.
If that was even a remote possibility I can see realtors and investors tripping over each other to get a piece of that action because we are talking massive money.
For what it’s worth that “wannabe west coast” is unfortunately the narrative driving the investment thesis on Austin.
Ask people why is Austin hot? The response is Covid, remote working and how 2 companies from the Bay Area moved their HQ to Austin. That is both unfortunate and deeply pathetic when ideally it should like well Austin is hot because this year alone 20 Austin based companies went IPO or the formation of 40 new unicorns etc.
The Austin tech scene has for years been a one step forward and one step back model. Yes there is tech scene but not quite exploded.
I hope this decade we see a true reckoning of local startups flourishing vs a bunch of people dancing in the streets because 2 Bay Area companies moved HQs.
@William Tillman to drive home your point about the misleading title, I will give another prediction that is almost guaranteed to come true. The Austin real estate market will increase by 100%... by 2100.
But for the people who are already there....hold hold hold
Maybe like the stock market, when there's nothing but good news, that's the time to sell. :)