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Old 06-20-2016, 08:34 AM
 
7,997 posts, read 10,378,641 times
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Austin ties San Antonio as the most overvalued housing market int he US. I can't say I disagree. I've actually been saying it for years. It's just a matter of time before the bubble bursts.

Most Overvalued, No. 1 (tie): Austin, Texas - In Photos: The Most Overvalued and Undervalued Housing Markets 2016 - Forbes
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Old 06-20-2016, 08:46 AM
 
Location: Avery Ranch, Austin, TX
8,977 posts, read 17,503,666 times
Reputation: 4001
Quote:
Originally Posted by CarnivalGal View Post
Austin ties San Antonio as the most overvalued housing market int he US. I can't say I disagree. I've actually been saying it for years. It's just a matter of time before the bubble bursts.

Most Overvalued, No. 1 (tie): Austin, Texas - In Photos: The Most Overvalued and Undervalued Housing Markets 2016 - Forbes
How much time??? Can you let me know so I can sell just before then?
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Old 06-20-2016, 08:49 AM
 
2,602 posts, read 2,972,856 times
Reputation: 997
Quote:
Originally Posted by CarnivalGal View Post
Austin ties San Antonio as the most overvalued housing market int he US. I can't say I disagree. I've actually been saying it for years. It's just a matter of time before the bubble bursts.

Most Overvalued, No. 1 (tie): Austin, Texas - In Photos: The Most Overvalued and Undervalued Housing Markets 2016 - Forbes
It's a stupid, stupid study.

It assumes that every single market in the nation was equally and appropriately valued in 2011.

Forbes Welcome


Fitch, which did the study, even backslides on it.

"A lot of the price increase is reasonable and explainable. "
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Old 06-20-2016, 08:56 AM
 
1,044 posts, read 2,369,274 times
Reputation: 719
Actually, i went to rent an apartment a couple months ago, in Austin, and for various reasons, I chose not to take it...loved the apartment, but for various reasons just chose to stay put in my current residence. But I kept my eye on the apartment website and noticed that the available units there in that building were not leasing...a couple weeks later, the rental agent from that complex called me, and told me that they have lowered the price on the units by $200 per month...and it got me thinking, that maybe the growth has leveled off; if things were as hot as they claim they are, then these really nice units would have leased sooner...they did lease after dropping the price. I think the in-migration to this city may have finally hit a crescendo, for now.
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Old 06-20-2016, 09:22 AM
 
Location: Austin, TX via San Antonio, TX
9,843 posts, read 13,641,280 times
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Quote:
Originally Posted by SmartGXL View Post
Actually, i went to rent an apartment a couple months ago, in Austin, and for various reasons, I chose not to take it...loved the apartment, but for various reasons just chose to stay put in my current residence. But I kept my eye on the apartment website and noticed that the available units there in that building were not leasing...a couple weeks later, the rental agent from that complex called me, and told me that they have lowered the price on the units by $200 per month...and it got me thinking, that maybe the growth has leveled off; if things were as hot as they claim they are, then these really nice units would have leased sooner...they did lease after dropping the price. I think the in-migration to this city may have finally hit a crescendo, for now.
Opposite happened to my complex. I got in under $800 and checked rents for a friend who needed to be under $800 and my unit in another building is now $850...about $80 more than I'm paying. I think there are a lot of factors associated with the rental market and that the Austin area that can fluctuate.
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Old 06-20-2016, 09:25 AM
 
7,736 posts, read 4,968,246 times
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Before I bought my house last year . I was bidding against 20 other buyers . It's overvalued because there's not enough houses for ppl moving here .
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Old 06-20-2016, 10:20 AM
 
Location: home
1,235 posts, read 1,527,340 times
Reputation: 1080
So the "article" was 10 photos...am I missing something here?


Places like SF have median homes values at 15x the median income. Austin is no where near that, perhaps Forbes is presuming the glut of paper-millionaires/Chinese investors in SF are back-stopping the market??


Also - the value of a market goes beyond numbers.

How does one put a value on Phoenix's weather (#4)?
Forecast to be over 110 for the next 10 days:
https://weather.com/weather/tenday/l/USAZ0166:1:US
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Old 06-20-2016, 11:35 AM
 
895 posts, read 1,236,078 times
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Man I wonder where the Chicago suburbs fall in line then.. 300k in those Chicago burbs will get you a dumbster fire 50 years in need of a remodel, mold infested, and property taxes that match your mortgage payment.
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Old 06-20-2016, 12:28 PM
 
7,736 posts, read 4,968,246 times
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Quote:
Originally Posted by Antny12 View Post
Man I wonder where the Chicago suburbs fall in line then.. 300k in those Chicago burbs will get you a dumbster fire 50 years in need of a remodel, mold infested, and property taxes that match your mortgage payment.
Sounds about right. 275k in my old neighborhood got you a house built in the 70's with major updating to be done. The same house here goes for about 175
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Old 06-21-2016, 10:21 AM
 
103 posts, read 210,610 times
Reputation: 95
New Jersey is much the same. $490K for a 3bd 1ba in need of a MAJOR gut job. No yard and neighbors inches away. Taxes $10K a year. It's insane. I am counting down the days until we get out of here.
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