6 ms·

7.5% is crazy growth. There’s no way a real estate market survives that without spiraling upwards

by coffeebeqn 2y ago

imposterr 2y ago
And yet it's gone down. >Austin rents have come down 7 percent in the past year. from https://www.theatlantic.com/ideas/archive/2024/03/austin-texas-rents-falling-housing/677819/ https://www.theatlantic.com/ideas/archive/2024/03/austin-tex... Turns out actually building homes works :surprised_pikachu:.
- serf 2y ago
  >Turns out actually building homes works :surprised_pikachu:. more like it turns out that having a wrongly-promised false market of endless real estate customers prompts municipalities to (over)-invest in the housing market. to our benefit this time, but let's call a cat a cat; it was due to over-provisioning based on incorrect future forecasts, not some altruistic political maneuver to benefit housing costs for residents; just a carrot for an audience of Austin hopefuls that eventually evaporated to the benefit of locals. Would this work elsewhere? Yeah, up until you hit the problems with excessive over-spending and waste of workforce -- which is to mean it's not a solution.
- hi-v-rocknroll 2y ago
  My lease rate went down 40% in ATX. They're basically begging me to stay in the penthouse at this point. I won't because the neighbors here are disrespectful (loud - I can hear their howling and yapping dogs barking through the "concrete" floor at all hours of the day and night), let their dogs piss and shit all over the front of the building, and the people moving in are insanely ignorant, uncool, and anti-social.
egberts1 2y ago
Nope. Not growing that fast anymore. It is dipping down to 0% growth rate, listings up 19%, number of home sold is down 4%, and time-on-market is up 5% longer. https://orchard.com/homes/real-estate-market-report/city/tx/austin https://orchard.com/homes/real-estate-market-report/city/tx/...

6 ms·

7.5% is crazy growth. There’s no way a real estate market survives that without spiraling upwards

by coffeebeqn 2y ago

7.5% is crazy growth. There’s no way a real estate market survives that without spiraling upwards

imposterr 2y ago
And yet it's gone down. >Austin rents have come down 7 percent in the past year. from https://www.theatlantic.com/ideas/archive/2024/03/austin-texas-rents-falling-housing/677819/ https://www.theatlantic.com/ideas/archive/2024/03/austin-tex... Turns out actually building homes works :surprised_pikachu:.
- serf 2y ago
  >Turns out actually building homes works :surprised_pikachu:. more like it turns out that having a wrongly-promised false market of endless real estate customers prompts municipalities to (over)-invest in the housing market. to our benefit this time, but let's call a cat a cat; it was due to over-provisioning based on incorrect future forecasts, not some altruistic political maneuver to benefit housing costs for residents; just a carrot for an audience of Austin hopefuls that eventually evaporated to the benefit of locals. Would this work elsewhere? Yeah, up until you hit the problems with excessive over-spending and waste of workforce -- which is to mean it's not a solution.
- hi-v-rocknroll 2y ago
  My lease rate went down 40% in ATX. They're basically begging me to stay in the penthouse at this point. I won't because the neighbors here are disrespectful (loud - I can hear their howling and yapping dogs barking through the "concrete" floor at all hours of the day and night), let their dogs piss and shit all over the front of the building, and the people moving in are insanely ignorant, uncool, and anti-social.
egberts1 2y ago
Nope. Not growing that fast anymore. It is dipping down to 0% growth rate, listings up 19%, number of home sold is down 4%, and time-on-market is up 5% longer. https://orchard.com/homes/real-estate-market-report/city/tx/austin https://orchard.com/homes/real-estate-market-report/city/tx/...