"Will Real Estate Ever Be Normal Again?" (Austin: foreclosures, to rent)

[cheeva]

Originally Posted by texan2yankee

. i don't see how housing prices will ever decline in austin unless a world war breaks out.

or if the Austin City Council goes full-on socialist and taxes the value out of Austin in order to provide "free" housing for the renter class.

[atxcio]

Originally Posted by texan2yankee

buying a house in austin city limits was a blood sport when we bought our home in 2013. we paid over asking even then...8 years ago...after losing out on other houses in bidding wars. i don't see how housing prices will ever decline in austin unless a world war breaks out. there are too many people chasing too few houses.

Yeah, we paid over asking in 2006. We got beat out on 3 houses before landing one. This was during the buildup of the subprime mess.

[Trainwreck20]

Originally Posted by atxcio

Yeah, we paid over asking in 2006. We got beat out on 3 houses before landing one. This was during the buildup of the subprime mess.

...but I am guessing it is now worth quite a bit more than you paid for it then?

[atxcio]

Originally Posted by Trainwreck20

...but I am guessing it is now worth quite a bit more than you paid for it then?

You guess correctly. I never said anything about regretting it.

[Trainwreck20]

Originally Posted by atxcio

You guess correctly. I never said anything about regretting it.

No, not implying that you do . Just saying that, for any significant length of time, you are better off buying a house rather than trying to 'time' it.

[cheeva]

IN the 78753 Zip code.

As long as you don't read the fine print, it's a great deal!

https://www.redfin.com/TX/AUSTIN/FER...home/160905055

[ashbeeigh]

Originally Posted by cheeva

IN the 78753 Zip code.

As long as you don't read the fine print, it's a great deal!

https://www.redfin.com/TX/AUSTIN/FER...home/160905055

I see what you did there. I was first confused about the style of the house not fitting what I know about a street with that name in Austin, TX. Then the school district was off and then I double checked the listing. I’d love to be that realtor right now getting calls from Californians offering 500k for it.

[Austin97]

Originally Posted by Need4Camaro

For me personally, I will never pay $800k for a house regardless of where it is. I would rather stash and invest the excess money.

I said that too once. At some point you get enough investments and the 800K house has things you want..

Also said I would never fly first class even if I had the money.

[ScoPro]

Well, wait around long enough and that $197,000 house will be an $800,000 house.

When we got married in 1967, it cost about $12 per sq/ft to build a nice house in central Texas. By the time we actually built one 4 years later, that had risen to about $18 sq/ft.

My brother’s first house he bought on Crestview’s Piedmont Avenue in 1959 for $6,500 is now appraised anywhere online from $598,000 to $617,000 and the annual taxes are more than the original purchase price. That’s for a 2/1 with 700 sq/ft. Lmao

Ain’t inflation wonderful?
Our current trend in that direction could even be worse in the long run, what with today’s disastrous & irresponsible fiscal policies.

[cheeva]

Construction work pays surprisingly well. Perhaps the 20-30 year old crowd needs to put down their lattes and put on their work gloves. Be part of the solution, not the problem.