Episode 58, Segment 1: Is Austin In A Housing Bubble?
With home values higher than they've ever been in Austin, many people paying attention to the real estate market have been asking the same question: Is Austin in a housing bubble?
As home prices have continued to skyrocket year after year, most people are asking: Will this trend really continue, or will the real estate market in Austin eventually collapse again?
John sure doesn't think so.
With the continuing population growth in Austin, in addition to the large number of tech companies that are starting to move to the area, John doesn't see a housing bubble at all. Several recent economic presentations have shown that we may level out, but we will still continue growing - just at a slower pace. Though our growth will probably move to a slower pace within the next 10 years, it seems like Austin will continue to grow and develop healthily.
"There is absolutely nothing that would point to real estate being in a bubble in Texas," John says. "If we have jobs moving here, prices are going to continue increasing and demand will continue to rise. Even if the economy nationally slows down, there are so many companies moving to Austin that there would have to be a catastrophic event for there to be no job growth in Austin."
Have any questions about the real estate market in Austin? Just email John or give him a call at (512) 524-8310.