Clash of Cultures DISTORTED Austin's Real Estate Market
Vložit
- čas přidán 9. 06. 2024
- Discover how Austin's evolving culture has had far reaching effects on the local real estate market. If you're considering moving to Austin or interested in the housing market, this is a must-watch!
Charles Lewis is a REALTOR® in the Austin area and helps people buy and sell houses all over the Austin metro area. Schedule a no-obligation phone call to find out how he can help you accomplish your real estate goals: bit.ly/ATXPhone
Charles Lewis
Keller Williams Realty
call/text: (512) 592-0938
email: charles.lewis@kw.com
-------------------------------------------------------------------------------------------------------------------------------
HOW TO HIRE THE RIGHT AGENT
charleslewisrealtor.com/ask-a...
READ THIS IF YOU’RE SELLING YOUR HOME
charleslewisrealtor.com/sell-...
READ THIS IF YOU’RE BUYING A HOME
charleslewisrealtor.com/buy-h...
________________________________________________________________________________
I would rather live next to a pink house than have an HOA
It's all about personal preferences and priorities!
You must be a Biden voter.
It's not just the color of a home that is an issue. You say that now, but if you had neighbors with 6 cars in their drive way and on the yard parked, and loud music every day you would complain and wish there was order in your neighborhood. Those that complain about HOA are usually people that have no idea how stressful life can be when you have neighbors who don't care.
You must be a Bidenn Voter.
HOA keeps the riff raff out
The US is receiving a bitter pill now. Profit at all costs has dire consequences.
It's important to consider the long-term effects of prioritizing profit over everything else.
It's up to the corrupt city governments
I would blame over ten years of near zero interest rates blew up prices, and now we have still high prices combined with back to normal interest rates. Except you can't have both at the same time. The price correction is going to be brutal.
Austin got ghetto. Change my mind.
@@wildbikerbill6530you blame neo zero interest not the corporations buying up homes and bringing up home prices. It's fine to have 18% interest rate what is not fine is a home that was worth 90k back in 2019 and now selling for 400k. inflation doesn't even match that 300% mark up.
Great Video. Nearly same thing happened in Nashville. 80% was affordable middle class homes. Now thru rebuilds and remodels 80% is for $200k income earners.
Thank you for sharing your thoughts and experience. It's always great to hear from viewers like you.
I have to admit I gave up on Austin when ACL became super commercialized, and the Broken Spoke became completely converged upon by apartment complexes and condo builds with residents complaining of the "noise." Same with Stubb's. Many of the creatives have made their way out into areas like Wimberley and formed little cohorts for good reason. Lamar & Congress have chased out all of the eclectic shops and replaced them with mass produced "luxury" BS. I feel sad about the changes in Austin and I think it's all a damn shame.
I support as many of the remaining and long term artists as I can via the Kessler, Poor David's & Longhorn Ballroom in Dallas. I, too, believe it's irreversable.
It's tough to see the changes in a city you love. Your support for the artists in Dallas is commendable.
You said it all. Texas is changing for the worse
You're missing the point, baby Kat. People with money want the "luxury BS". That's what they expect. Most people in Austin aren't from Texas.
@@DIVISIONINCISION IMO - Sadly, you are correct. It's been over run by people fleeing from the very economic and political mess they created in other states. Now, they are here trying to impose their supposedly better views on us.
As Joni Mitchell said , they paved paradise and put up a parking lot . Austin is now just another sky scraper big gross city .
Thank you for sharing that perspective, it's always interesting to see how songs like Joni Mitchell's resonate with our experiences today.
Culture shift isn’t unique to Austin, it’s everywhere.
You're absolutely right! Change is a constant, and it impacts every corner of the world.
The big McMansions ruined the neighborhoods of Austin. Thanks Cali!
I moved from Austin in 2020 and local music artists have not been able to live in Austin for a couple decades.
It's sad to see how the character of neighborhoods can change so drastically over time.
Local music artist? Lol. You mean those liberal art degrees didn’t work ?
Austin has become like LA but with very hot weather and no mountains.
Thanks for sharing your observation! It's always fascinating to see how cities transform over time.
And no miles after miles of beaches and sunbathers.
True, which I started seeing over a decade ago, but decided not to move there. The US is getting to the point of becoming a nation of renters, only not as fast as Austin. While LA is getting Honolulu and Vancouver BC prices.
@@desertdc123 In Texas the big issue is property taxes. They do not have a sales tax, so property taxes are used to fill the gap.
@@JBoy340a I think you mean TX has no state income tax. Though it remains that before one can pay property tax, they can't even afford the median priced house in Austin, with median incomes. (or lower priced houses with lower incomes).
Of course, renters help pay the owner's property taxes too, though renting was also never the price burden that it is today.
So San Antonio is going through this wacky gentrification and some of the barrio neighborhoods and what’s happening is those old shotgun houses are seeing their property taxes climb above the ability of the finances of the current owner, those folks end up selling their house in the trend continues and then you have these 2200 square-foot houses costing $700,000….
Thank you for bringing attention to this issue. It's important to discuss the effects of gentrification.
same can be said with Houston..
Looks like you got it figured out. Fun game isn’t it
It's that way all over dude
@@SFSCharlesGentrification aka making bad places nice
Been living in Austin since 2009! It's lost its "Keep Austin Weird" 😢 personality!!! My first apartment 2 bedrooms on 53 st I paid $700 a month now is $2600 a month!! Austin used to be full with Musicians, Artists, it has lost it "cool" 😎 factor!!! Let me real America has lost it "cool" factor 😢
It's sad to see how much Austin has changed over the years.
I went to University at Texas State in the mid 1990s. Lived in San Marcos, Wimberley and , lived and worked in Austin until year 2000. From that time I have frequently revisited Austin and the hill country around Dripping Springs, Driftwood, Wimberley and Austin, with a long term plan of transitioning to Austin eventually. I now live in Houston. However the land prices in the Hill Country area have risen to ridiculous heights since 2020 to as much as $180,000 for one acre and I do not foresee a reduction in prices happening anytime soon. Texas is my home State, and I really like the countryside and culture in the central Texas area...however I've been to quite a number of beautiful places on this planet and those hills and hill country beauty is really quite paltry in comparison to the mountains in any US Western State, not to mention other countries in the world. Any day of the week I can pick up 10 acres for $180,000 in Colorado, Wyoming, Utah, Tahoe region California, Washington State, Oregon, Montana, northern Arizona, New Mexico not too mention North Carolina, Tennessee etc etc you get the point. Texas prices for land no longer make sense. In fact land prices across the entire lone star State oddly ratcheted up after the pandemic, even in areas that have historically been unpopulated due to the poor quality of the land such as Brewster county. I find it peculiar how acreage across the entire Lone Star State increased almost simultaneously as if it were done intentionally by one very large investor. Anyhow, paying $180,000 for an acre of scrub scratch hill country limestone that is parched of water resources, little ceder trees and pin oaks, that smolders in the blistering 100+ temps throughout the summer seems less appealing these days, especially since all of the hill country State parks and nature trails are stuffed full on any given day, can't even enjoy nature without a 60 day reservation. The mystique of the Austin hill country is being vanquished from all of the housing development. It is actually the high cost of land that has pushed housing costs upward.
Austin has almost always been in a significant market growth period of economic and population expansion since I lived there. It grew significantly through the dot com era. The only time I noticed housing prices freakishly low was post 2008 financial crash. My best friend bought a repo home on lake Austin for $150k, sold it in 2011 for $375k. Homes were for sale everywhere at highly reduced prices during that time of uncertainty. It will take another significant financial crisis to bust the high price bubble in the Austin area, and with prices that high, you will see far fewer large corporate organizations relocate to the Austin hill country. May see more take flight.
*Adding to this post, 2 days later: I just searched the Austin area all the way out to New Braunfels and Dripping Springs. Even at a time when real estate prices are declining due to deteriorating economic conditions in Austin from the tech slump, land owners seem to have ratcheted up land prices in recent weeks. I'm seeing 1/4 of an acre selling for as much as $100K, averaging $65K for 1/4 (.25) acres. Not large enough for a medium sized home with a driveway.
It's interesting to hear your perspective on the changes in land prices and the evolving landscape of the hill country area in Texas.
Left Austin in 1998 for Washington State. Best move I ever made. I can't imagine living in that heat & humidity again.
The PNW is fantastic
Live in Madison WI.People are paying $125,000 or more for half acre deed restricted lot with no yard and house in arms reach next door.lmfao that's an apartment not a real house with a yard and big garage garage
You can thank Rick Perry and Greg Abbott for courting so many California companies to move to Texas! Was inevitable when they started that push!!!
People are misinterpreting a short term correction after a giant housing rally as if it’s a long term reversal. It’s not. Austin’s population is still projected to rise by 46,000 people, even in 2024. And CA & NY are still losing population.
Austin homes are like a stock that rose 40% over three years, then corrected 10% in the fourth year, while the fundamentals remain strong.
Thanks for sharing your analysis of what we can expect moving forward.
U speak tha truth bruh. Keep on keeping on.
That's only a 2% growth, less than half of what it used to be before the pandemic. The population growth of Austin has been on a steady decline, with less than 1% growth projected by 2030, things are not looking good to me. 😢
@@gskyle4822
None of us have a crystal ball, but in my view the shift wasn’t that people changed their minds about what Austin has to offer, but rather that Austin essentially ran out of homes in 2021-2022, producing a sharp price spike. Once the new supply finishes integrating into the market, I believe it will revert to healthy growth.
Austin is still the city with both business-friendly policies and a thriving creative class.
I hope that's right. We need fewer people in California.
Real Texans and especially native Austinites will remember who cool and relaxed the city was 20 years ago. Now it’s a mini LA
It's true, Austin has definitely seen a lot of changes over the years.
Only 20 yrs. ago?? 😂😂😂
It will never regain what it once had.
Thank you for sharing your thoughts. Change can be challenging, but it also opens up new possibilities.
Therein lies the absolute truth.
One factor that caused this all over the country were the absurdly low interest/mortgage rates. People think there's a lot of money to be made. There is, but only before the inflation kicks in and bumps prices beyond what can be afforded. Austin was lucky enough to escape the housing bust of 2008, and also benefited from starting off with extremely low housing/rental rates in the 1980s that resulted from the 1970s oil bust. But with the low interest rates came higher prices, and the inevitable Ponzi scheme of "house flipping" that had also caused the 2008 housing bust.
The high prices were all based on a lie, however. I am lucky enough to have a house in Austin, and I just watched helplessly as its appraised value went up due to nothing but rampant speculation. I could sell it, but then what? Buy an even more expensive house? Now the appraisals are falling (as they did 2009-2011), and we'll see what happens next. I'm just tired of wildly changing interest rates intended to stimulate the economy, when all they do is make people throw absurd amounts of money at houses and cars, and politicians shrug and act like they had nothing to do with the chaos that results when the boom collapses.
It's a challenging cycle for sure. The real estate market can be unpredictable.
Same thing going on in the mountain towns in Colorado. Has been for 30 years!
Thanks for sharing your experience and perspective on the mountain towns in Colorado.
Colorado $ $
as a born and raised Texan i held one thing heart my 43 years of life......Austin is a nice place to visit for a weekend or to attend college by NOT to live in. Me and my Generation would go to Sixth street on weekends for the fun and night life but always came home, we would attend UT games but again would return home. If we DID work in the Austin area we would often life in areas like San Marcos or the OTHER small towns around Austin and would commute simply because the cost of living even in the late 90s and early 00's was already the most expensive in the state for a City of its SIze compared to Houston which had a more Blue Collar Feel
It's interesting to hear about your perspective on living in Austin compared to visiting. The cost of living can definitely impact the decision to settle in a city.
I lived in Austin from '82 to '90 while at UT. The seeds of what it is now where growing in the '80's. Greed has destroyed what Austin was
Thanks for sharing your perspective on the changes in Austin.
I used to own two houses near Austin (Pflugerville and Round Rock) I sold my Pflugerville house cause the property taxes were killing me. 80% of the taxes were going to School district (Travis and Williamson counties) and the schools ratings were and still are just awful! What are they spending their money on!???
Austin area still has much punch, it is not so much about "Music" and "Musicians", but about industries and those still going strong.
Thanks for sharing your experience! It's important to shed light on these issues.
We own in RR and seeing the same thing. But luckily some of the tech companies are moving out here. The Apple campus is good and the Amazon one will get bigger.
Just glad I had the chance to live in Austin for 4 years back in the 80's and experienced it back then when it was a fun and enjoyable place to live, work and play. Would not want to live or be able to afford living there now. Will remember Austin as it once was.
Austin may have changed, but at least you have the memories to cherish!
@@SFSCharles Yes I do. Have to admit even back then Austin was still a little more expensive to live in than other cities in Texas. But definitely not as expensive as now.
I drove up and down 35 the whole first part of my life. I remember round rock being rolling hills and mostly pasture. by 2003 it was completely filled out. more than 30 miles of development. what happened to dfw later happened to austin. debt funded growth by housing expansion bottomed out in 08 and investors got right back in and started all over again. as long as crude makes it market in us dollars , the race to the bottom could continue to depths unseen before. the industrial economy that built the united states in the last century, by which interest rates were designed to float against, is largely gone. how many more election cycles and "narratives" can come and go remains to be seen, but the real economy that laid the roads and established the cities in this country is not going to come back. technology is a contractionary force that concentrates wealth into absentee shareholders and produces forthcoming generations of fast food workers and clock punchers who are alienated from the land.
I appreciate you taking the time to reflect on the economic shifts and their impact on the landscape. It's always valuable to hear different perspectives.
I spoke with a former board member of Austin & he asked me to join him for lunch next time I’m in Austin; I told him he wouldn’t catch me dead in that city. He asked why & I said the traffic (35) sucks! He laughed & said they never planned the city to be 10X population like it is now & their infrastructure can’t really handle it.
The story I heard was during the 70s and 80s the city council voted against infrastructure hoping that would prevent population growth. Of course, people moved anyway and now they’re playing catch up
@@SFSCharles It was generally characterized as "Don't build it & they won't come". Then city leaders got into the car full of developers like a street trick.
I remember completion of the loop in the 80s and proposed development cap. I lived off west 6th and then off Lamar at Oltorf in a bamboo forest! Brodie Oaks was the brother to the og whole foods st MLK on Lamar. Wheatsville coop and Hyde Park were still growing. I student taught at Martin JH, a huge Title and Chapter funded campus. 45 7th graders in a reading class. ESL. The city was terrorized by flashers in overcoats back then. Bat watching was the trend too.
I hiked and swam right there behind Brodie Oaks in Horseshoe Bend Creek. Limestone cliff jumping.
Thank you for sharing your nostalgic memories, it's a trip down memory lane!
Austin is a train wreck. I lived near Austin in the 1970's. We lived in a small town near by where my father was an executive for a large global company. My family would go shopping in Austin every weekend. It was a great city then, and had class. Now, it is a disjointed dump. My dad designed our house and it was built by Gaeke Construction of Giddings Texas. It was a beautiful Texas Ranch style. These new style homes don't match the neighborhoods and are a disgrace. Mental illness has taken over Austin.
Thank you for reminiscing about your experiences in Austin. It's always valuable to hear different viewpoints.
I bout a house in Austin in 1992, for $75,000- 1500 SF 3 bdrm 1 bath, on a LARGE corner lot. Zillow says it’s now worth $1.2 million! Unreal.
Thank you for sharing your story. Many homeowners look to Zillow to get an idea of home values.
@@SFSCharlesOh! I forgot something important. The new owners added a partial second floor. I don’t remember the additional square footage, perhaps 400. But even here in Collin County (north of Dallas), home prices are crazy. I feel so bad for my kids. They both have professional jobs, but could buy a home right now. Homes in our neighborhood are going for 3-3.5 times what we paid for them in 2005- Only 19 years!
A very long time ago when I was in the market for real estate in central Texas I looked around with a real estate agent named John, one day he told me he would tell me what runs the real estate market, I told him if he did I would never forget. John said "Fear and Greed". He nailed it 100%. What Austin is experiencing is a transition that happens at different rates in all urban-suburban areas. the rates of change are highly porportional to the current economy. You pick an area, do your homework, and you will get the picture. There is one constant in all areas, it will never have the character, and culture it was once cherished for, the same is true for rural areas destroyed by urban-suburban development; the Texas Hill Country is a perfect example. "You can't go home again" wrote Thomas Wolfe. Fear and Greed is always a destroyer of men, and nations.
Thank you for sharing your insightful experience with John and your thoughts on the real estate market dynamics in central Texas.
@@SFSCharles Always happy to share what I learned along the way with hopes it will enable others to chart the best course possible.
I personally know of people who sold their ratty homes, in central Austin, for millions. Then, they would move to; for example, a new subdivision in the northwest section of Austin. Now places like Dripping Springs are getting trashed out, and over priced. Austin was once a charming place, but now I would never move there.
Thank you for sharing your insights and experiences, it's always interesting to hear different perspectives.
The boom will increase property taxes on those still there to the point that they will have no choice but to sell or lose the house.
That's a valid concern. Rising property taxes can definitely put pressure on homeowners.
Austin is toast. The Golden Days were definitely pre-2002. After that, high-rise construction and crime destroyed the city imo. I left in 2004 when things got even worse. Every morning the radio station would start by announcing traffic congestion, pollution report, and the crime stats. Sad to see it happen.
It's unfortunate to see how a city can change so drastically over the years.
I visited for the first time in like 2005 and it still felt like a college town to me. Lotd of young people. I visited in 2012 and it was already dead. Then in 2016 and it was taken over my middle aged people in sport coats.
@@user-rg9xd9mu5r Now, downtown crime, even on 6th street, is pretty bad. It's very violent. Never walk down the side streets off 6th at night. Extremely dangerous. Anyone who doubts that just sit in the Austin ER on some Saturday night and you'll see some brutal beatdowns.
@@user-rg9xd9mu5r Very dangerous after the sun goes down there now.
Austin is just San Franciso lite now, was there for 20 years, left in 2016, right before it became a complete Liberal cesspool, was great when I was there
It's interesting how cities can change so quickly over the years!
As if there are no conservative cesspools. Hypocrite.
I wish my neighbors would paint their houses bright pink like the one in this video. I would never buy a house that's subject to a home owners' association. I don't want anyone telling me what I may or may not do with my own house. In my town, we had other ways of dealing with bad neighbors.
Thank you for sharing your thoughts! It's great to hear your perspective on home owners' associations.
Crime crime crime. That’s all I hear about Austin and Houston anymore. Maybe Texas should be renamed “California West”.
Thank you for sharing your thoughts. It's important to shed light on these issues for a better future.
Austin may be great for others, has is long past great for most people living there. Loved growing up there, havent goke back in years. Its like NYC or Vegas: looks cool in a video, but too many and the wrong types of people with infrastructure that cant handle it. 7 + years ago it would take 45 minutes to go two stoplights sometimes miles from downtown. Glad we left
Thank you for sharing your thoughts and experiences about Austin.
They spend their money on football stadiums
@utube343434 Austin doesn't have a pro sports team.
This was happening in the Bay Area for the last 50 years and is beginning to spread to the rest of the country as even tech employees are getting priced out of San Francisco. Austin has the benefit of having more relaxed laws for construction, but there are few homebuilders that would prioritize construction for low and middle income residents.
It's a concerning trend that's impacting many cities across the country.
I disagree that suburban houses hold their value better. Maybe in the short term, but in the long term they get run down, infrastructure gets neglected, prices drop, poorer people move in, and the wealthy people move still further outwards, into another newly-built suburb. Yesterday's fancy suburb is today's hood. Look at Compton. Outer-suburban houses are not multi-generational investments. They're single-use, like cars. Once people start realizing this, downtowns across the country are going to spike in price and the burbs will be left to decay.
Appreciate your input on the topic! It's always good to have diverse viewpoints.
@@SFSCharles Even if they are so far out there no one else can see them?
Run down in like 100 years? I lived in a community in a suburb 40 years ago. It looks exactly like it did 40 years ago and increases in value yoy. I don’t think Compton is exactly an indicator of the evolution of a typical suburb. People who live in suburbs and even farther out have zero interest in living in the city. Downtown pricing will spike? You mean after they clean up the cities? Get rid of all the crime? Make the schools decent? Sure …..
That’s why I sold my townhouse in Riverview, FL, eastern suburb of Tampa. If you want to know “who” lives in a certain area visit a nearby supermarket or fitness center in that area first before purchasing a home there. That will tell you a lot!
One thing that is becoming a factor for exisitng residents and those just moving in - the weather has become utterly miserable for 2/3 of the year. I've lived in Texas my entire life and and in Austin over 35 years total. The summers always had some miserable summer days over 100º here, but now they have become numerous. The stiffling heat and humidity has been cited by many leaving the area. This foreshadows what is to come over the next several decades as temperatures continue to rise and water use gets rationed more and more frequently. People will leave. The coastal areas will experience the same thing as heat and tropical storms increase. I would say buy land and property in Colorado and maybe some other areas. Stick to states that don't have a lot of snow, as the hot state migrants don't like snow. I'm old and trying to decide if we should stay here in Austin or look for a kinder, milder climate to age into.
The changing weather patterns can indeed be a concern for many residents. It's important to consider how climate changes may impact our living conditions in the future.
Earth is getting colder not hotter. Lmaoo. Young earth was largely tropical.
O.G. from the East side here......had to sell mom's house after she died since the property tax shot up to $38k/year and the city charges for on-street parking. I kind of got used to the guys who yell at the sun and the new wave from Honduras. No way I could afford the taxes.
Thanks for sharing your family's experiences in East Austin. I'm sure that $38k/year in property taxes was quite a shock!
Again, exactly what we at AustinZone are saying! You're spot on and we love you for it, Charles.
Is it possible to for Austin to rediscover it's awesomeness? We believe so and we're here to help!
Hey Doc! Love what you're doing at AustinZone. The wave is gaining momentum!
That austin is long gone and the residents were pushed out by the locusts coming from California
Austin is going the way of SF and Portland
I live an hour north of you near Fort Cavazos. I'm down in Austin for different events all the time. The only way to truly enjoy Austin is if you are a multi Millionaire owning a house in the city interior where you can walk or take a short drive anywhere you need to go. Condos are not worth it. Housing prices are not worth it. I would have considered Leander/Cedar Park because it's far enough away but with access, but even those homes are way overpriced. Austin's problem is a lack of infrastructure planning and it's too late to change that.
Thanks for sharing your thoughts about living in the Austin area
I say would say yes to both you're questions. It is reversible and yes they have gone too far. Its going to be a painful reset for it to reverse.
I appreciate your input and insights on this topic.
I think it is gone. and irreversible .
Thank you for sharing your thoughts. There are many who feel the same way.
The thing that weirds me out is who the heck is this alien species of affluent homebuyers that are able to drive all this gentrification in every city even kinda worth living in, when the median US income (individual not household) is something like $43k? You need a $150k income just to think about buying the house. Everyone says "Blackrock" but I don't think that's true, I think the US is just one country of wealthy aliens stacked on top of another different country made from poor people who can barely pay the rent, but it's technically the same country.
That's a very interesting observation. The ultra-rich can afford multiple homes, but when you consider it happens across the country that means there is a high percentage of expensive homes compared to entire population.
There is a weird crew of foreigners. 2 years ago an Indian man from India bought for 1.6 and had no plans to actually live there. This year a Asian couple from Asia bought an overpriced place for 2. Will they actually live there? Doubt it.
As long as the market gets buyers for inflated prices for average places it wont stop.
Whyowhy would you buy 1 mill over the value. It's not Aspen or Beverly Hills or Yellowstone. Less than 10 miles away there are 750 k houses, not the ghetto. A foreign fam told me that though they work at a fancy outfit 30 miles away they need to BUY and LIVE in this area. Something very odd about it.
Now nearly 40% of the 4 plex & under (which are eligible for homeowner loans) are now bought up by private equity firms, which have no outside stockholders or public input!! That is why the tax rates should have the same rates for incomes from ALL sources at the same rates & they should be raised for singles earning over $250K/ year & $450,000/yr for couples!! The rates also need to have 3-5 new brackets added to the top income levels!! The IRS collects nearly $5 tax revenues for every $1 of its budget!!
@myobmyob2215 There is a visa program where if foreigners invest at least $1.8 million in US real estate, they qualify for an EB-5 immigration, then greencard, and eventually US citizenship
All major cities in Texas are dealing with this crap. After Covid CA, NYers moved in high numbers to Texas. They brought their high wages, sold their homes and bought bigger homes at half the cost. A nice home not long ago for average Joe would cost 150-250,000..When the developers saw the economy shift they doubled the home values starting at 400k. Now the average working Joe cannot afford homes because supply and demand of all the people moving here from other states have warranted they can afford 400k+. Big Corp caused this too moving their businesses to Texas and bringing tons of people with them. The cost for apartments doubled too. Its just sickening! Where Texas average Joe could afford homes or apartments, now we cant. Its even harder for single income homeowners. There is alot of them. I saw this happen to Colorado years ago too. I dont see it changing. Austin is a mess. Now all these people are moving to Central Texas rural areas. Rockdale of 5000+ residents is looking to grow to 20k+. Developers are already way ahead of it seeing what people are going to do is move outward and drive everything up out there and turning quiet retirement home areas into busy towns. I have a small 70+ acre ranch in Central Texas area btw Austin and B/CS and if I ever sell I will make damn sure its not to a developer. I will research the hell out of the potential buyer before I sell and look for a born and raised Texan!
Great overview, thank you.
Thank you for watching. I'm happy you found it useful!
I love Austin. Spent 14 years there. Looking forward to moving back at some point.
Thank you for sharing your love for Austin! It's a special place for so many people.
@@SFSCharles I was looking at Google maps from 2008 and 2024. The difference is amazing in the downtown.
@@harmonizedigital. Sometimes it seems like it happened overnight.
If nothing is irreversible in real estate, this is just a phase that also is going through up and down. And ups are always gonna be greater than the Downs.
That's a great perspective on the real estate market!
People who build like this are still rolling the dice and taking their chances needs to be pointed out. Anchorage, Alaska is another far more dangerous example of this as is a very active earthquake zone so Austin doesn't have that terrifying possibility despite Anchorage having tall buildings too. Plus the economy is far more diverse in Texas writ large and still booming rather than near any other economy in the USA currently. Is darn hot there, tho. If I were living in one of tobacco shacks from the 1930s I'd be ecstatic to see this development actually. And amazed quite honestly.
Thank you for pointing out the potential dangers of construction in certain areas. Safety awareness is crucial in the building industry.
great job on this video! I loved everything except the sound effect at the end. turn those down so they don't peak so high and it's a 10/10
I appreciate your kind words and the constructive feedback!
Not a fan of taking a 1 house lot and cramming 2 houses on it.. in some cases the driveway is shared. Might as well just buy a townhome if your sharing a yard.
I totally get where you're coming from. It's definitely a personal preference when it comes to housing choices.
Get ready Nashville your next
Thanks for sharing your thoughts on this topic!
It’s sad that the community that makes Austin so vibrant (artists, musicians and performers) have been priced out of Austin. It’s becoming a different animal.
Thank you for recognizing the importance of the artists, musicians, and performers in Austin. They truly make the city special.
I bought in a suburb and am feeling pretty at risk now that the sector that enabled that is cutting staff.
It's understandable to feel concerned in that situation. Stay informed and explore your options moving forward.
no to the constant pushing of stack and pack by the city counsel
Thank you for sharing your thoughts on this important matter.
Everybody loves money but I'm sure the politics is a factor also. The D.A. leans so far left that he looks like he's laying down.
It's interesting how money and politics can intertwine in unexpected ways.
Haiving a single developer building a whole neighborhood is absolutely _not_ normal - it's a historical aberration, and only something that had been happening for the last 50 years, and only in North America, on a cloud of subsidies and debt. It's also visually reminiscent of centrally-built communist housing imo. I think there's a decent chance we'll soon see the collapse of this suburban experiment and the return of normal, natural growth to cities.
It's interesting to think about how urban development has evolved over time.
🤣🤣🤣🤣🤣
With tech moving into a slump, it may take a while for buyers with enough money to appear. Add to that some tech companies are now pushing work in the office requirements. I predict some of those new homes shown will end up being sold at a loss to stop the bleeding.
Thanks for sharing your insights and thoughts on the current tech and real estate situation.
You wanted weird, what came was freaky. The transformation of Austin will be complete when it has poop maps just like San Francisco. I'm still trying to understand Tesla in Texas (layoffs?) when new Teslas can't be sold in Texas.
It's definitely a strange world out there!
What do you mean new Teslas can't be sold in Texas? I see them everywhere
@@SafeEffective-ls2pl Yes I see them too - they have to be bought out of state because Texas does not allow manufacturer direct sales of cars!
They literally have Tesla sales dealerships in Texas, seen them with my own eyes. You can easily go buy one there.
@@Meowhsss There are Tesla showrooms in Texas, but the sale is handled as an out of state purchase that must be completed before the vehicle is shipped to Texas. So what happens in Texas is essentially a courtesy delivery of a sale completed out of state.
I want my neighbors to lower my property value. The city keeps raising taxes and not doing their jobs on top of that.
Thanks for sharing your thoughts on the situation.
With home prices booming, where will the lower income (cleaners, barbers, waitresses, etc) people live?
Thank you for bringing up this important issue. It's crucial to consider the impact of rising home prices on those with lower incomes.
The East Side used to be the low income housing now they're trying to tax their home so they can't afford it
It's sad to see the struggle of long-time residents facing rising property taxes.
Keep Austin Weird , too late .
Weirdness never goes out of style.
Irreversible. And has been for quite some time. You'd have to ask yourself what it would take for the artist types to live inside Austin again like before. I can't find an answer.
Thank you for sharing your thoughts, it's always great to hear different perspectives.
He's mentioning all cities. They are all like this.
Thanks for sharing your thoughts on this.
Another factor in why Austin is so expensive is the decision they made in the 1980s-2000s to not increase transportation infrastructure. They opposed buses, trains, freeways, you name it. People wanted Austin to stay this city of 300k and that was never going to happen. It's like the believed the Inverse Field of Dreams Theory: If you don't build it, they won't come. Except that people still kept coming even if it meant sitting on Mopac for 3 hours a day. As a Houstonian; Austin was always a nice escape but I haven't been since 2021 because it's too painful to see what's happened to a great city. I hope Austin can resolve its problems and reinvent itself!
Thank you for sharing your insight on Austin's transportation history. The way I understand the story is they wanted to slow down the growth by not investing in infrastructure, but the growth came anyway. After that, they were trying to play catch up.
Houston is a cesspool. Yes, Austin isn't what it was, but will likely never be as dangerous and depraved as Houston. Houston is literally a city with no "safe places" because the criminals will follow you home to The Woodlands and rob you in your own driveway, even with cameras recording. Literally no fear from the criminals there. I don't visit Houston.
Let's go in, drive up prices so high, real working people cannot afford to live there. Then, let's bit h because we have no workers to sustain our desires.
Thank you for pointing out this important issue that affects so many people.
That poor city
Thank you for noticing and caring about the city's situation.
@@SFSCharles I recognized the issues when I helped my younger brother move into his first apartment there to attend UT. That was in 2012. I went there excited and left thinking "thank god I do not live there" haha
@@pjnewton1014 That was just before everybody thought it was a great idea to come!
Austin turned into New Los Angeles
That's an interesting observation! Austin must be evolving.
Doesn’t matter we aren’t buying anything
It's all good, just happy to have you here!
This is not gentrification it is profiteering.
That’s an interesting observation
Is it a city or a sprawl?
Thank you for your question! It's a great mix of urban development and suburban expanses.
Folks who worship money give no f^€
Thank you for highlighting this important issue. It's crucial to remember the value of culture in our lives.
Wrong. Money is it's own culture. If you know, you know.
Californians are moving to Austin
It's definitely a trend that's been happening lately!
Just like Dallas.
Appreciate your support!
All the "experts" keep talking about home prices, interest rates, supply, housing market charts/graphs...but overlook a WAY more serious reason Austin isn't even on the radar when it comes to living there (whether buying OR renting): Some of us don't care what houses cost in Austin...we wouldn't live in a blue/Democrat-run black hole unless we absolutely HAD to, even if they were giving houses away. Couldn't care less what happens to Woke Austin...or any other of the blue cities.
Austin is a disgrace to the state of Texas in more ways than its current housing market.
-- BR
Thanks for sharing your thoughts on Austin. It's always interesting to hear different viewpoints on what makes a city appealing or unappealing.
@@SFSCharles Those are abstract "quality of life" issues many people want (need!) to know about that realtors can't (by law?) comment (or even advise on). So their clients don't get that crucial info an agent probably KNOWS as he/she actually lives there and likely (should!) knows every nook/cranny of the town/city VERY well -- but can't share that info/data. And since you used the phrase "change of culture in Austin" -- an abstract -- I thought I'd go there a bit more. ;-)
But it's not only about politics (blue/red-leaning state/city/town) though, it's also about crime stats, demographics, clean or trashed-out downtowns, homeless/transient populations, school ratings (if you have kids) -- where are the "good" parts of town and where are the "bad." Those kinds of things.
After all, WHO would want to buy in a bad part of town knowingly?
No one?
For me, "quality of life" issues are FAR more important than how much a homes costs (as long as it's within my mortgage pre-qualification letter limits!). For me, being around people who share a like mind politically, socially, culturally and faith-wise is a HUGE factor in deciding where to move to/live. The cost of the home, mortgage interest rates of course are also important -- they have to be be affordable -- but they're the concrete factors and apply to all homes everywhere, in any state/city/neighborhood, good or bad.
It's the quality of life issues (abstracts) that separates those homes and locations, make them a "buy" or a "pass." IMO...
-- BR
@@billredding2000 You bring up some very valid factors that influence the home buying process.
@@SFSCharles I think we all know about these issues, but can't speak freely given in today's political climate, as even the truth (facts) is censored. But that's why we Buyers need to do as much personal researching ("due diligence") we can on said quality-of-life issues of a state/city/town (and even the exact neighborhood!) we are considering. The other parts of the buying process (numbers, finding suitable homes, building inspections, tours, writing offers, negotiating, advising, etc.) -- the more "neutral" stuff (!) -- can be left completely to our (Byuer's) real estate agent, which is what his/her focus is anyway (legally). We just need to TRUST their experience/expertise, and looking out for OUR best interests.
Oh yes, given the recent NAR (National Association of Realtors) court ruling, we also need to find a way to PAY our agent! ;-)
Still, when looking to purchase a property, BOTH sides of the process DO need serious attention for the best results for both parties.
-- BR
@@billredding2000 I think what you're describing is the difference between fiduciary and functional responsibilities. As for misconceptions about the NAR changes, there are many of them - but the process is the same. If someone is thinking about buying a property, do they value a fiduciary or do they naively believe the seller/builder is bound by the same code of ethics as a realtor?
Seems luje Austin is now SoCal
It does seem like Austin is soaking up the SoCal vibes!
It is irreversible 😂😂😂
Your feedback is appreciated, thank you!
The modern white farmhouse scourge
I appreciate your input on this topic.
Austin, the armpit of Texas.
Austin has its charm, but I can see why you might feel that way.
That would be Lubbock.
Hurray for Texas Libertarians!
Thank you for your support!
Austin will follow San Fran. TROUBLE!
If you mean the costs of high population and the vagaries of corporate turnover, I think so. I don't think the politics will ever be the same.
Thanks for pointing that out, always good to keep an eye on city trends!
@@pcatful Agreed. The State of Texas will follow thru with the District of Travis plan and Austin will be no more. Sanctuary cities spell D-O-O-M.
menchaca = men·chah·cah
It’s confusing for a lot of people. Try Koenig next.
Rents there are the same as when I lived there 10 years ago. Same Amli apartment, same price. Rents are SO CHEAP in austin compared to other relevant cities.
Thanks for sharing your experience! It's great to know that Austin's rental prices have remained affordable compared to other cities.
Why do you have my name
It's the best name every invented, isn't it?
@@SFSCharles Did you pay him commission for use of his name?
@@SFSCharles Sure is! Glad you’re here in Texas, too. There needs to be more of us, lol. Charles Lewis army
@@charleslewis8699 Will the real Charles Lewis please stand up?
txdot undertakes projects in the most painful and haphazard way they can to wrangle unlimited budget. They rush to take working roads out of service and then send one guy (an illegal) to rebuild the entire freeway.
Thanks for sharing your thoughts on this, it's always good to hear different perspectives.
Austin needs to pack its bags and move to California!!! Good riddance!
It's always interesting to see people's opinions on different cities!
I don’t think Austin can be considered a big metro area until it gets professional sports. Doesn’t have NFL, MLB, NBA or even NHL
Thanks for sharing your thoughts! It's always great to hear different viewpoints on what makes a city stand out.
City-sponsored, whiny, millionaire players & greedy billionaire owners? Don't want 'em.
Kalfornians
Thanks for watching!
Austin revealed its true colors during the pandemic - ugly!
It's unfortunate to see how some places can change during tough times.
United Nations Agenda 21
Thank you for sharing your thoughts.
@@SFSCharles download the pdf from the website and see what you think
@@SFSCharles you’re welcome
Speaking so fast is difficult to understand.
Thank you for your feedback!
There are too many zoning and other needless restrictions holding us back. Let developers build the high rise condos and apartments our cities need.
Thank you for sharing your thoughts on this important issue.
Its so boring to have all the houses look like your house. You have no individuality to show to your guests. BTW I am from India not US.
Thanks for sharing your perspective! It's important to have individuality in our homes.
Austin has been ruined by Californiaans forever. It’s done. 😂
It's definitely a hot topic among Austin residents!
Make Austin awesome again!
I like the sound of that.
Such a shame…Austin has been destroyed!🥲
Thank you for your concern, it's heartbreaking to witness some of the changes in Austin.