Some November 2021 Real Estate Stats (San Antonio, Austin: apartment, rental, crime)

[Need4Camaro]

Originally Posted by TexasHorseLady

Do you understand that destroying Austin's character in the worship of the almighty dollar also has consequences?

The irony is even by preserving it, we are literally doing the exact same thing, and even worse; we are limiting Austin to a select crowd of high earners. We aren’t saving anything.

[austinnerd]

Originally Posted by TexasHorseLady

Do you understand that destroying Austin's character in the worship of the almighty dollar also has consequences?

Some would say that a less hyperbolic way of stating it would be "the evolution of Austin's character".

[TexasHorseLady]

Originally Posted by Trainwreck20

But, of course, the answer is what?

An application required prior to moving to Austin to prove that you will be a musician or otherwise maintain its character?

A law requiring sellers to only sell to these people and and/or must sell way below what it would be worth on the open market?

Oh, I realize that I'm tilting at windmills. Those who worship money and status above all else will always get their way.



I've watched Austin move around within the city trying to hide from those who discover it and promptly seek to destroy it for money for decades now. Now it's moved entirely out of town, it seems, and maybe that's the only solution - let the spirit of Austin move and don't let ANYONE know where it is. (Though I was sworn to secrecy myself back in 1968 when first told about it by a native Austinite who was particularly prescient about what would inevitably be done if anyone found out about it.)

[Trainwreck20]

The only way an area gets expensive is when the people that live there sell for high dollar amounts. So those people moving around the city would have been selling high, then buying low, repeat.

At the end of the day, it has nothing to do with the city - it is the people that are there (or not there).

[Need4Camaro]

Originally Posted by TexasHorseLady

Oh, I realize that I'm tilting at windmills. Those who worship money and status above all else will always get their way.



I've watched Austin move around within the city trying to hide from those who discover it and promptly seek to destroy it for money for decades now. Now it's moved entirely out of town, it seems, and maybe that's the only solution - let the spirit of Austin move and don't let ANYONE know where it is. (Though I was sworn to secrecy myself back in 1968 when first told about it by a native Austinite who was particularly prescient about what would inevitably be done if anyone found out about it.)

You do have some points regarding money and status but not all of this is about that. Look, while money can be over glorified by certain people, it is still a necessity for survival. We cannot have a functional economy without money. We need money. It’s a method of trade and establishing fair value for product. Without it, we would overly consume and provide nothing valuable toward each others workmanship nor would there really be any reason outside of morality (which most of society is lacking) to provide fair workmanship. Money is a necessity… your issue is not with money particularly, but rather what appears to be the unfair dispersement of money…

…which brings me to another topic… …it may not be as unfair as we think it is. I’m sorry but it might not be. I do agree there are a lot of snobs and greedy people, but there are also a lot of people who have made wise planning choices and people who have worked their @r$ off to get where they are in life and those people will also be unjustly punished through selective social catering, even if they are billionaire status, that doesn’t necessarily equate to them being greedy just because of their status but rather their methodology of obtaining wealth is what determines that and alot of people who are high wealth are being generally thrown into one basket (rich, greedy, snobbish) when they actually might be legitimately doing what they are supposed to be doing within the legal constitution… This is why that although cheeva can come off as a jerk, that I still respect his argument because I know where he is coming from and why he is upset.

…what you are arguing is an emotional value, while this is a very personal and dear value to you and a very heartfelt one, this does not hold weight in light of principality… We were never promised that any city or locality would stay the same. Places change everywhere all the time. For you this is heartbreaking but I have literally seen what is happening to Austin in three other cities. Principals supersede emotions. I’ve had to learn this the hard way. It’s the reason you can get angry about not being able to afford a home but still get evicted, or the reason that a low wage earner who wants to live in a hip area despite how deeply they feel attached to that area, cannot obtain legal ownership over it with their feelings alone. They need a principal method to obtain it. If you follow only your heart you lead to distress. The heart alone is not enough to lead.

[cheeva]

WTG, Austin-Steve. Look what you've done.

Just curious, are you a Six-million dollar man, yet? RE's been good to you, I'm sure.

[TexasHorseLady]

Originally Posted by Trainwreck20

The only way an area gets expensive is when the people that live there sell for high dollar amounts. So those people moving around the city would have been selling high, then buying low, repeat.

At the end of the day, it has nothing to do with the city - it is the people that are there (or not there).

Not the people, the spirit. The Austin Weird. The music scene (though those did move as they were forced out by condos, etc., from the artsy and affordable - as opposed to ticky tacky and affordable - neighborhoods that fed the spirit). Yes, the land owners sold high, but the musicians and creative types did not benefit, nor, frankly, did Austin.

[COCUE]

Originally Posted by TexasHorseLady

Not the people, the spirit. The Austin Weird. The music scene (though those did move as they were forced out by condos, etc., from the artsy and affordable - as opposed to ticky tacky and affordable - neighborhoods that fed the spirit). Yes, the land owners sold high, but the musicians and creative types did not benefit, nor, frankly, did Austin.

So what happens to those of us who are neither musicians nor creatives? Infact we are not even native Austinites. Would we have to make human sacrifices to the God of all things Austin to be let in? Who decides who is qualified to be here? Do you have to look a certain way, behave a certain way or see life a certain way? Who gets to decide all of this? Slippery slope you are prescribing.. very thin line between exclusive and exclusionary.
I for one I'm glad that more outsiders are coming to Austin!

[ScoPro]

Welcome, but do not try to make Austin (and Texas) like the place you are escaping from. Adapt and assimilate.
I did 62 years ago.

[austin-steve]

Originally Posted by atxcio

Steve, what do you think about the increasing amount of out of town investors in the market? I’m slightly concerned, because they are counting on those huge appreciation numbers, that’s the only reason they are in. If even a small drop happens, I could see the investor component paring down significantly, which could add to the drop.

Investors, whether local or out of town, provide rental housing, which is important. Especially as more people can't purchase want to rent a home. Any the rent/value ratio is dropping, such that rentals are actually cheaper for renters as a multiple of value. When I started investing in the 1990, homes rented for about 1% of sales value ($90K home rented for $900/mo). Now median value homes rent for about 0.5% of value ($500K home rents for $2,500/mo).



The downside of investing is when investors outbid home buyers with cash offers. Enough of that causes involuntary renters who decide to give up buying or wait another year (not advisable).


I don't think there will be any mass selling of investor owners due to any drop in pricing. Many or selling now to cash out and take equity.