Why Everyone is FLEEING Austin as Fast as They Can

n this video, Eli Magids breaks down the real reasons why people and companies are leaving Austin, Texas in droves. From astronomical real estate prices to controversial local politics, Austin is facing a major exodus. Big tech giants like Google, Facebook, and Oracle are packing up and pulling out, leaving behind millions of square feet of office space and overpriced homes. If you're wondering what's driving this shift and how it impacts Austin's future, this video has all the answers. Tune in to discover the truth behind Austin’s unraveling tech boom!

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[jacklyn-bu]

Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.

[clemdane]

This is going to happen over and over again around the country as a new "IT City" gets chosen and tech companies move there and suddenly everyone flocks there. Prices skyrocket, infrastructure gets pushed past the breaking point, the old residents resent all the newcomers and complain about them, then the prices start crashing back down. Then it moves to a new region and a new town...

[blessedandpeaceful]

Staying in Austin for last 16 years. Saw the huge influx of people mainly from CA. The prices went up. 2021 sold my house for 4 times the price I paid 9 years back. I saw the traffic patterns changing for the worse. The small little town that we wanted to stay in turned into a big city, becoming expensive along the way. I am happy finally people are leaving. I would appreciate if Austin shrinks by at least 40%. I want that old Austin back. Ample, inexpensive properties. Very affordable rent and everything dirt cheap. Looks like that wish is going to come true soon.

[johnschmit]

I left Austin in November 2006 and never looked back. It was overpriced, had heavy traffic and stupid out of state drivers then; I can’t imagine what it is like now.

[Archangels]

The Californians came, took a huge dump on Austin, and left. Just like they did to San Francisco.

[rickbecket]

I live in Austin, this city has built a huge number of 4 story apartment buildings that have attracted a lot of new people. This city is now packed with renters. As far as people leaving, we are seeing home owners leave and renter come in. The whole feel of the city has changed in the last few years.

[annt]

Its unfortunate for those who are too young and missed the experience of living in Austin in the 70s. Austin City Limits, the Armadillo, Barton Springs and fishing from inner tubes on Lake Travis while eating Corn Nuts and drinking Pearl beer. The pace was slow enough to match Whalen, Willie and the Boys.. The only big employers were the University, the State House or one of the State Schools for the Blind, the Deaf and for the developmentally delayed. The movers and shakers were somewhere else. I helped run the old Youth Hostel south of Town Lake. Grateful for the experience.

[gqftoast]

What kills me is that much of what you said about Austin hold true all over the country.

[BillySBC]

In the late 1800's and early 1900's mass numbers of people left their homelands and came to the United States looking for a better way of life. Fast Forward to the year 2024 where United States citizens are looking to leave the United States for a better way of life. Sad how greed has destroyed this noble experiment.

[Americasays]

I’ve lived between Austin and Nevada since 2006 and in a month I’m going back to Nevada for good and never returning to Austin. This city has fallen so far from what it used to be.

[antonia]

I grew up in Austin. It used to be such a magical little place. But now because of reasons mentioned here it’s not the same. We moved in 2018, as locals getting local pay we couldn’t afford it. Since all the people buying homes in Austin came from cali, we figured that was where the money was And we were correct. Moved to California and immediately got a big pay raise. We now own a home something we never would have been able to afford in Austin.

[lilshaz]

Property taxes could be less if corporations weren’t given tax breaks that then become the burden of home owners.

[sunspots]

My neighbor moved out and put his house up for sale in early 2024...I never even saw anyone has moved back in.... he changed realtors... Austin is not Austin anymore

[LweissTTU]

I moved to Austin in the early 70’s, and left in 2015. The infrastructure has never supported the population of the city, and it has gotten much worse. I don’t miss it. Progress is fine until it ruins what used to make Austin a fun place to live.

[rtblackev]

I live in Austin. As you mentioned everyone is moving to Round Rock or the Hays area. But what needs to be said is all those people are still commuting to Austin for work. As a result the traffic is getting worse literally every day

[lichin]

Yes, flee Austin now. It's horrible. Flee!!!

[TomSoundsGood]

Moved to Austin in 2017, bought a house in 2020. There’s good and bad but overall, Austin has been a wonderful place to live. Still happy to be here.

[MsterTch]

Been here 40 years, native. I praise everyone who is leaving. This is great news.

[mh]

Austin didn't have the infrastructure before everybody started moving there.

[Ultrajamz]

Austin as a city is the issue, not Texas. Not enough roadway/infrastructure. DFW was a smarter choice but companies instead bet on Austin being “hip” attracting talent…. Talent goes where you pay enough for them to go!