Advice On Austin Anyone ? (real estate market, houses, unemployed)

[artsyguy]

Yes most people will have a job lined up before they move. That is usually how it always works. Most people don't move to a new city without a job.

[inthecut]

Originally Posted by jobert

well put cut. The unemployment rate will be 25% for relocatees, and 6-7% for everyone else (roughly). Local service/hospitality/landlords will benefit, but not any sector tied to the national economy. I agree that people need a job/spare cash before moving or they will need to be staying with friends/family.

Let's put it this way....those already situated in Austin, especially those working for state, city, and U of Texas, will be fine.....that accounts for a large chunk of workers.....there ARE hiring freezes across the board for the same, but sounds like those working NOW, and their pensions are quite safe for now.....there could be some job cuts in the public sector itself if times and coffers get tighter.....

Those in Tech have it worst....tech was trending down already, before this year......now it is quite bad locally, and, unfortunately, the higher incomes in Austin are largely in the tech sector.....other private sectors in Austin such as real estate, contruction, advertising, auto sales, high-end retail and dining, law..... even some medicine, such as dentistry, are going to be hit hard this year and much of next.....

Retail will slow......commercial real estate has halved from last year, so there will be little job growth in retail....and the retail/service jobs will
be struggling, as pockets tighten.....Austin IS blessed with many affordable eateries, and that is a godsend for those who still want to enjoy a nice night out for a decent price....that's why they are still doing well, and should continue to do so...

Relocatees will have a VERY hard time finding a job in most any field in Austin this year and much of next......hiring is largely frozen in place in all public and private sectors.......not to say it is impossible to land something, but it will take extreme legwork, very possibly more than it would take to find something in the city the relocatees are running from, as they at least have friends, family, and a social network in place there..........

[inthecut]

Originally Posted by jobert

true. Good point Trainwreck.

I think that more the case for tech or medical........the mere fact that the unemployment rate has risen from 4.7 to 6.4 in the past year states that many people ARE coming here without jobs lined up.....either that, or that 1.7 jump was entirely experienced by locals.........Just as a quick read, it seems like most relocatees that post on here are hoping to find something here, and coming with nest eggs....

Good fodder for a future post....

[Jennibc]

Originally Posted by inthecut

Just as a quick read, it seems like most relocatees that post on here are hoping to find something here, and coming with nest eggs....

It may seem like people asking about Austin on these boards talk about just moving with some money saved. However, it seems that most people that actually moved here (at least that post on this board) have at least one member of the household with something lined up when they get here.

[mark311]

Originally Posted by Jennibc

It may seem like people asking about Austin on these boards talk about just moving with some money saved. However, it seems that most people that actually moved here (at least that post on this board) have at least one member of the household with something lined up when they get here.

I'm just one example, but both my wife and I moved here 3 years ago without any jobs lined up. We both found jobs within 2 months at a 40% pay cut from what we were making in California as we expected. If we had unrealistically tried to hold out for more money, it would have taken us much longer. After 3 years of hard work, we are just about back up to what we were making in California. Of course it will be more difficult today than it was 3 years ago, but it can be done.

[Trainwreck20]

On the flip side, I have a co-worker whose husband was laid off from a hi-tech company. He is actually most likely to find work in CA (has to do with his expertise); anyway, if he gets a good job out there, then they will probably move (again, it all comes down to their particular economics). We will then have to find a replacement for her...one more job opening in Austin because someone got laid off....it is all so tangled .

[inthecut]

Originally Posted by Jennibc

It may seem like people asking about Austin on these boards talk about just moving with some money saved. However, it seems that most people that actually moved here (at least that post on this board) have at least one member of the household with something lined up when they get here.

In that case, presuming they relied on two incomes in the past, that's still a chance to take.....unless one was a homemaker of course......

Again, I'll set up a post laster tonight for that, and it should be interesting getting back info from relo folks on the same...

[Trainwreck20]

Of course, the people that do already have jobs lined up are less likely to be hunting around C-D for job info

[mimimomx3]

It comes down to personality. If you're daring and spontaneous, you'll pack up and move with lots of hope and no plans. If you're like me, you won't move without selling your house, lots of savings and a job. Neither is right- it comes down to what works for you.

[jobert]

Relocatees have two sets of circumstances:

1. Decide to move to Austin - then find a job
2. Find a job in Austin - then decide to move.

More people fall into the first category from what I've experienced (talking from personal experience, and not from this forum). It's dyslexic thinking if you ask me. I was offered a job here, but had thought about moving beforehand, so I jumped at the chance. I could have just as easily been in that first group, but waited for my window instead.

one last point, even if 3 out of 4 people moving here have jobs lined up, that's still 25% unemployment for relocatees..