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With regard to Austin's prices...value is based on what someone is willing to pay. Just like you are only worth what someone is willing to pay you. Supply and demand. And, there is quite a gap in Austin right now. As more housing comes online, prices will stabilize. There is currently no concern of a bubble within the real estate professional establishment. Additionally, Austin has it own topographical (and ecological/environmental) challenges - especially in its entire western frontier (from northwest Austin metro to southwest Austin metro). And the east side is not exactly flat either. All-in-all, I too hope that the city can fast-track the entitlement process for a myriad of housing projects in the pipeline. *A few interesting recent data points - since a comparison to Nashville was broached: Nashville: seeing about ½ of the active listings it saw at this point in 2020. Roughly 2.4 months of inventory. Austin: seeing about ¼ of the active listings it saw at this point in 2020. Roughly 0.4 months of inventory. Austin, Phoenix, Nashville, Tampa and Denver are expected to be the hottest markets in 2021. While New York, San Fransisco and Los Angeles are expected to be the weakest. |
I don't have the data, but it seems like the steep terrain in the hills and valleys of southwest through northwest Austin haven't kept growth at bay in those areas. Many newcomers want to live in those close-in scenic areas if they can afford it. But they also want to live in the central part, which is so incredibly expensive that it's just ridiculous. I think someone mentioned already that there must be plenty of families that are perfectly happy in the cookie cutter burbs, which are still relatively reasonable. I know people who are moving east to the burbs in the former farmlands. That wouldn't be for me, but for many, it's just fine.
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Block 185/Google Tower 2
3/28 https://i.imgur.com/pVj1kQh.jpg https://i.imgur.com/mtEpzue.jpg https://i.imgur.com/IYHS6zH.jpg https://i.imgur.com/LLvnfRY.jpg https://i.imgur.com/LPCC6VN.jpg https://i.imgur.com/4ieF86w.jpg https://i.imgur.com/vB1trVR.jpg https://i.imgur.com/YBCBG3g.jpg https://i.imgur.com/ZR0Mrht.jpg RiverSouth 3/28 https://i.imgur.com/JnawkHH.jpg https://i.imgur.com/rTINaEb.jpg https://i.imgur.com/fiUexiF.jpg |
I've seen this issue (urban housing affordability) in Austin and many of it's peer cities.
Its actually cheaper to live in urban Chicago than urban Austin or Nashville. It simply is. Chicago has way more inventory and less population growth. Austin and Nashville have a very small stock of urban housing stock which has caused what limited stock they do have to increase in value to insane levels. Add in the need of a car in Austin and Nashville, and a place like Chicago (or Philadelphia) become increasingly attractive. |
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Chicago is pretty inexpensive as far as big cities go, though.
Austin seems more expensive than NYC on average to me though, based off of my calculations on necessary things to live. Maybe someone from the Bay Area, which is generally more expensive than NYC can justify a move to Austin, but I wouldn't be able to if it were purely based off of economics. Also, from what I've seen, salaries seem to be more or less 20% less in Austin for tech industry jobs. One of my best friends works at Google and turned down a relo opportunity because it came with a 20% pay cut. Strange how that works, considering NYC is actually more affordable than Austin for a single person, but perception says otherwise. That being said, Austin makes a lot of sense for some people obviously since its exploding with population growth. I tend to think a lot of the people moving to Austin are relatively unestablished in their careers and see it as an Eldorado for opportunity, which is awesome. New York isn't really like that anymore, it seems that entry level jobs are requiring a minimum of 5 years experience. Same in SF. In this regard, I think it is great that there is an intermediate between NY and SF where younger people actually have a shot at getting a decent tech job. In regards to Nashville, I think they are probably facing a bigger bubble than Austin is, because their economy is largely inflated and not robust in the ways that Austin's economy is. So if I were to bet on Austin or Nashville, I would bet on Austin. That being said, there will definitely be a price correction at some point in Austin housing, probably in the next 3 years. |
Hanover Republic Square
https://i.imgur.com/28hWoRCh.jpg https://i.imgur.com/DyTUjCOh.jpg https://i.imgur.com/HPcoocZh.jpg |
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Sorry if this has already been posted. But, the following is a very interesting read...
https://www.bizjournals.com/austin/n...-explored.html |
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I updated the list of Austin's tallest projects:
https://skyscraperpage.com/forum/sho...05&postcount=6 There are at least 46 projects in the pipeline that are 300'+ and 8 between 700' and 1,050'. These are 15 of the 46 that are underway. https://i.imgur.com/CAFnmUd.png |
Wow, that's crazy!!
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No kidding.
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^^^And, 6XGuadalupe may end up being 883'. A new FAA lining is being discussed in the subforum which states the structure's heigh to be 883' - up from 848'.
Rumor has it that the developer would like to slightly increase the ceiling height on the residential unit levels - totaling an additional 35' in height. |
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From the construction webcam. Austin's new tallest 6 x G at 848' and possibly 883' now with a switch from rental to condo, is about 16 floors up at the core:
https://i.imgur.com/jPMRolv.png http://webcampub.multivista.com/inde...6-E3C4B0C3B2C1 |
Looks like Block 164 has some glass going up as well.
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883 feet means that it’ll surpass Charlotte’s Bank of America Tower.
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The density in that pic is nice.
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Even though I prefer the design of Charlotte's Bank of America Corporate Center, the 848' version of 6XGuadalupe will have a higher occupied floor (I believe) than exists in the BOACC. |
Congrats Austin!!! So, the new Samsung EUV plant is now going to cost $1B more than originally proposed ($18 billion)!
https://english.etnews.com/20210518200001 https://www.sammobile.com/news/samsu...tory-location/ |
Damn, that's crazy!!
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Austin is booming!
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The Google "Sail" is really coming along!
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Google building.
I think this is the best looking tower in the skyline. It will great when finished.
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I'm sure there is a reason for that kind of paint.
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Great skyline shots!
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Awesome shots Kevin! Loving the dense angles too!
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Really nice skyline shots!
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very nice... keep up the good work.
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Looks like the developer of 6XGuadalupe has changed the residential component from apartments to condos - and is increasing the residential floor-to-ceiling height on those levels.
So, this tower, which is under construction, is going to be 66 stories and 883' tall. Sweet!!! |
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Hyatt Centric
https://i.imgur.com/H4HkQmih.jpg https://i.imgur.com/w7301FNh.jpg Whole Food Expansion https://i.imgur.com/qNGErgRh.jpg https://i.imgur.com/Vnq9r3gh.jpg 701 Rio Grande https://i.imgur.com/Z18i4byh.jpg |
I love the skinny Hyatt centric so much!
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Hanover Brazos Street
https://i.imgur.com/cLIbe18h.jpg https://i.imgur.com/7FiRltxh.jpg https://i.imgur.com/m8b5JU6.jpg Block 185 https://i.imgur.com/mKOEtbvh.jpg |
Any news on the Austin statesman site? Feels like that should have started by now.
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