Prices in Austin don't make sense to me anymore
I started my real estate career in 2012 so I have never actually worked in a downturn or a slow market. Lucky me. Just curious on others thoughts. I don't see how prices can keep going up. All the fundamentals are strong here in Austin. However all I can think about is school and what we learned about how markets are cyclical. Down turn has to be coming soon ? Or I am I the crazy one who is trying to talk about something that literally no one can predict?
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It would be easy for me to say that prices in Austin make no sense anymore! I have been investing in Austin since 1990. Some of my first flips in Austin:
-Purchased condos off of Oltorf for under $5k
-Purchased a home in Allendale for $42000
And so on and so on. I wish I had them all back !!!
However the growth in the Austin area seems to support today’s prices. The last national downturn was more of just a slow down in Austin. While flips are hard to come by and margins are just too thin for me right now, I just do not see the bubble bursting anytime soon