Austin one of the 15 worst housing markets in the next five years?

[sxrckr]

Originally Posted by JohnHenrySDM

I agree. Too little information about methodology and how they arrived at the list. And think of all the cities not on the list... Detroit, Phoenix, Miami, Las Vegas...

Miami is on the list.... in fact it's at the top as the worst.
As far as the others, if the list was longer they'd probably follow. But also I think those places have fallen so much already, they are going up now (though that's not saying much considering how much they fell to begin with.)

[CptnRn]

Here is the full list.

Here are the Worst Housing Markets For The Next Five Years
1. Miami, Florida
2. Atlantic City, New Jersey
3. Nassau County, New York
4. (tie) Fort Lauderdale, Florida
4. (tie) Midland, Texas
4. (tie) Washington, D.C.
5. Abilene, Texas
6. Morgantown, West Virginia
7. (tie) Austin, Texas
7. (tie) Waterloo-Cedar Falls, Iowa
8. (tie) Baton Rouge, Louisiana
8. (tie) Amarillo, Texas
8. (tie) Lancaster, Pennsylvania
8. (tie) Monroe, Louisiana
8. (tie) Shreveport, Louisiana

[rickc007]

He may want to re-read his list

Austin is the only one positive in both categories

"
#9 (tie) Austin, Texas
Cumulative growth from 2005 to 2011: 2.63%
Annualized growth from 2011 to 2016: 1.2%
Trough: Q4 2012
"


The others are Significantly minus
????


Detroit, Vegas or South California are not on the list ???

[MT_90068]

I am a full-time resident of Los Angeles, CA and a part-time resident of Downtown Austin. I love Austin and will hopefully relocate here full-time in the near future and only live part-time in LA. The overall quality of life in Austin is great! That being said, the condo prices in DT Austin have become a bit unreasonable (preposterous...ridiculous). I purchased my 1050 sq ft 2 bed/2 bath condo in DT Austin for $390K back in 2008 and in my opinion that was fairly reasonable. The prices of these new condos @ The Austonian, The W, etc are being priced anywhere from $850K to more than $2 million and the average monthly association fees are nearing $1000 per month. I can live right in the middle of Manhattan, NY for those prices. Based on the current DT Austin condo prices I can easily understand why it could possibly be one of the 15 worst housing markets in the next five years. If you purchase a DT condo at the current price, come five years they will significantly be worth less. Just look at how the DT Seattle market has significantly decreased. The reason So Cal and Vegas isn't a part of this list is because the prices have already dropped so significantly and they are actually starting to rise in those areas. I purchased my 1750 sq ft newly built Hollywood Hills home in 2010 for $675K (it was a foreclosure), I could easily sell it for $1 mil now. Overall I think the Austin market is great, but in areas such as DT Austin, the prices are significantly over-priced and if you buy at those high prices you probably will regret it.

[Trainwreck20]

Yeah, I think several people have hit on what the article is really saying - that the Austin market never really collapsed (at least not as much as some other places), so it will not have as big a rise or rebound over the next 5 years. Odd article, though, in that it (like so many others) way oversimplifies.

[TonyG5003]

Uh... their data is way off, unless I'm reading this incorrectly:

#4 (tie) Midland, Texas
Cumulative growth from 2005 to 2011: -40.95%
Annualized growth from 2011 to 2016: 0.8%

What???

Not that I'm personally a fan of Midland, but there's a HUGE shortage of affordable housing, and the $100K-200K price ranges went up, not down from 2005-2011. And, the ranges above that went up, or were flat for the most part during that same time. I moved to Austin in 2007, and sold my home in Midland at $285 with multiple offers - and a cumulative appreciation of 22% from 2004 to 2007.

Not to mention... it's boom time again..., boom, boom, boom. And with more than one new oil field discovery of late, it's only going to grow more - assuming they don't run out of water completely.

Are these people smoking something, or are we all just reading these numbers incorrectly here?

[Indie rose]

Austin and surrounding areas are alot cheaper than most place in the US especially the north or NE NW!