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"And the price gains are not universal. Median housing prices in the Austin metro fell 15% from May 2022 to May 2023" Why do you think that happened? Demand wa
by bob_theslob646 3y ago
"And the price gains are not universal. Median housing prices in the Austin metro fell 15% from May 2022 to May 2023"
Why do you think that happened? Demand was less than supply or the prices they were asking for were outrageous or they built to many homes.
Housing is a very tough area to analyze as a whole because of state rules regarding mortgages being assumable
- hn_throwaway_99 3y agoIt was just a bubble. Austin was the ultimate "meme stock" during the pandemic years. Austin has a lot of good things going for it, but between things like Musk, Joe Rogan, "crypto bros", tons of Silicon Valley decampers, it just got way over-hyped. One of the things Austin always had going for it was that it was a good value compared to bigger cities, but now that it's just about as expensive as those bigger cities, people are realizing the brutally hot summers, lack of easy access to mountains or oceans, relatively bland architecture and abysmal public transportation just make it overpriced.