Austin - Yay or Nay?

5 Replies

I see the pros and cons of course in a hot market but would like to know what others opinions are either in a similar market or people who are in Austin right now. For context, I have been living in Austin my entire life and am ultimately bullish, for good reason, but would love to hear others takes.

Austin = Yay. I am in the market everyday and I see it. One can read about the unemployment and the job creating machine that is Austin metro, practically every day. Or one can drive downtown, along sh 130, along 183, sh 45, mopac and every major road and view the cranes. Or one can go to closings and see actual hud settlement statements for sellers and know that there is real money being made. I am seeing hud settlement statements with 6 figure outcomes. Austin metro latest stats from the Austin Board of Realtors (may 2021) show that the metro is appreciating at 42.2%. 

@Kimia Dargahi I follow commercial real estate to determine if a market will be a long-term play. Right now, Austin has 42 towers in development in the central core, a massive Tesla Gigafactory under construction in east Austin, a multi-billion dollar Apple campus under construction in NW Austin, a potential 17-billion dollar Samsung factory coming in NE Austin, as well as dozens of companies moving their HQ here in the past 12 months. These are all signs the BIG companies are making long-term bets on Austin, much more than any single-family investor. To me, that's the info I trust to make long-term decisions. This is not an immediate cash flow market as the appreciation has been too strong. However, the rental market is quickly rising and long-term will be incredibly strong.

Originally posted by @Kimia Dargahi :

I see the pros and cons of course in a hot market but would like to know what others opinions are either in a similar market or people who are in Austin right now. For context, I have been living in Austin my entire life and am ultimately bullish, for good reason, but would love to hear others takes.

Austin is super hot, as are other markets  though like Columbus, Cleveland, Cincinnati, and some would argue you can get better returns there.