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Old 01-28-2012, 08:50 PM
Location: Phoenix
7,933 posts, read 9,160,439 times
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Originally Posted by wag more bark less View Post
I get your logic, but I also think this is a bit of an oversimplistic way of thinking about it. There is no housing bubble going on now and housing prices stay pretty stable here, due in part to really high property taxes. Although there is still lots of urban infill and suburban construction going on, it's not an economic driver. Gov't, universities and tech make the job market pretty stable, but not a juggernaut. Not every city that busts recovers fully, and not every city that experiences growth busts, let alone one of the Vegas magnitude. But you're right, Austin has already felt some consequence of fast growth, the biggest I see are congestion/traffic and a really high apt occupancy rate, which drives up rent.
I wasn't trying to oversimplify anything; however, these things do happen and we cannot predict the future. I was just offering another point of view to think about. Just because a job market is stable today doesn't mean it will continue to be if people continue to flood that market. In addition, other cities have busted when construction wasn't a major economic driver. I hope for Austin's sake that the growth slows. I like the city (even though I feel it has lost a bit of its character)...as I used to live there.
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Old 01-29-2012, 05:54 AM
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Austin over Vegas...consider the DFW metroplex as well
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