The Epicenter Of The Next Housing Crash: Austin, Texas

In this video, we delve into the alarming state of the Austin, Texas housing market, which has experienced a dramatic shift from unprecedented growth to a severe downturn. Home prices in Austin surged by 101% between 2016 and 2022, only to plummet following sharp interest rate hikes. We explore the factors contributing to this crash, including the tech industry's influence, overbuilding, and rising inventory. With home values declining significantly and a potential tech sector disruption looming, Austin's market faces a volatile future.

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[Mathew-zsnz]

It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.

[Alanwilliams]

I woke up to the tragic drawbacks of our debt-based financial system during the last financial crash. Through discipline, determination and Abby Joseph Cohen my financial advisor, I was able to retire recently in my early '50s with a bit of land in the Williamson act on the California coast and an investment portfolio that can sustain my daily living. I try to spread the word and encourage many people I meet it is possible to achieve the goal of independence. Living below your means can be enormously rewarding!
Practice humility and above all, Invest in the financial markets with expert guidance.

[pizzacpa]

Threee things from someone who lives in Austin: 1. All of the locals here in Austin are loving this crash because it makes future home ownership more of a possibility 2. There’s also a ton of apartments that are recently built and still are being built and stillhave to be built, and that’s only going to drive housing prices down 3. in the long run. Things that made Austin attractive before all this text stuff still make Austin attractive today. At the bottom of the downturn, Austin will once again be considered a very affordable city and that will usher in another upswing of people moving here and therefore prices going up again.

[missinglinq]

lf Austin is to correct 50% Phoenix and Las Vegas should correct 80%. It is stunning what is happening in those inhospitable cities.

[GeorgeP-ujxc]

This isn't a bad thing. Developers were successful in building enough units to meet demand and now prices are coming down as a result of the new supply. Ideally this should've been the case in every US metro area but bad zoning regulations have made this impossible except for a few markets like Austin.

[ab]

Nashville, Atlanta, and Raleigh will all follow.

[tpfrk]

We are definitely heading towards another nationwide property price crash. Inventory is rising across every major metro in the US while at the same time the median home price to median income ratio has never been higher…..EVER

[michaelslifecycle]

I’ve come to learn that not only inflation is raising prices but sellers as a whole are raising prices just because they know that people aren’t questioning it as much. They can just write it all off as “inflation” and get away with it. But eventually it won’t work anymore. This isn’t just with home prices but prices all across the board. I even heard a CEO of a large landscaping company say that if you aren’t raising prices right now then you’re messing up, because customers aren’t questioning it.

[TinyTexasHousesPSO]

Imagine the office building crash too. It will follow as condos fall too.

[jqx]

Austin is not having a crash, but a correction. Do your own research on the median household income in Austin and compare Austin with similar cities. Austin is not so overpriced.

[PDXPiggy]

I have close family selling their primary and vacation home. They argued with the realtor and listed it $100k above market. It’s so silly.

[EJleon]

The greed is gonna come back and bite all the big shot real estate investors in the bum. This belief that what goes way up doesn’t eventually come way down is asinine.

[renaissanceman]

having lived there during the internet tech boom and bust of 2001... Austin is slowly turning into a yuppie utopia surrounded by impoverished dumps. what was once a safe and friendly 6th St adventure is now turned into an area you avoid after sundown. Traffic is horrendous, parking an exercise in eye twitching frustration, one way streets that lead you in circles and traffic so bad that even on sunday mornings its difficult to get anywhere. In the event of a natural or manmade disaster Austin with its extreme congestion and extreme dependance on infrastructure is the last place any sensible person would want to be.

[petenrita]

bodes extremely well for the future. As prices and rates fall, Austin will be much more affordable and attractive. It will be even more of a threat to Silicon Valley. But not before more price deflation, .

[mikemartin]

Why would anyone want one of these overpriced wooden boxes. I can get a nice tent at Walmart for $100.

[harmonizedigital.]

I bought a house in Austin in 2009 for 90k. It was up to 400k just a year ago.

[eyeeye]

Greed has taken over on everything and now it's time to pay

[KNS_Racing]

All those overpaid tech startup jobs there that were grossly overvalued companies finally laid off many of their employees around austin. Without all those workers to pay obscene prices for housing, something will have to give.

[raymond_sycamore]

lol guess it ain't too great in TEXAS! I'll stay in my boring old rural Ohio low cost of living location, thank you.