2 ms·
Austin isn't exactly a poster child for affordability these days - $1-2M houses are common there, and don't get you much more than in SF or on the Peninsula. T
by nostrademons 3y ago
Austin isn't exactly a poster child for affordability these days - $1-2M houses are common there, and don't get you much more than in SF or on the Peninsula.
The advantage of Austin is that the suburbs still have reasonably affordable homes (< $500K), while in the Bay Area you're looking at $1M+ even out to the Tri-Valley area. But high housing prices follow money, for pretty basic supply & demand reasons. If a place starts getting widespread prosperity housing prices will eventually catch up.
- scoofy 3y agoAustin has high property taxes, which forces growth. You don’t have the same Prop 13 dynamic where people have no reason to sell. People who suddenly find themselves on property worth millions of dollars will need to sell or redevelop, which helps the housing market function properly in the long run.