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Originally Posted by bossabreezes
The cookie cutter suburban areas are cheaper than the East Coast, but the places that people actually want to be are pretty outlandishly and artificially expensive IMO. I'm sure many East Coasters would agree.
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Well sure, but the cookie cutter suburban areas are for people that want families and/or space at a relatively inexpensive price compared to the coasts.
Obviously tech has boomed, but so has every industry that comes with rapid population growth.
Desirable parts of Austin are outlandish to buy in as of 2021, but folks with money are still snatching them up. Austin, unlike DFW and Houston, does have some geographical constraint that coincides where most people would want to leave.
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I'm not trying to be rude or upset anyone when I say this, I just see this becoming a problem in the not-too-distant future. It could be a bubble on the horizon or some kind of slowdown due to the expense. I think Nashville is in a similar situation, although Nashville actually has more scarcity of land due to topography than Austin does and potentially justifies its high housing costs.
I don't see many young New Yorkers moving to Austin to live in a cookie cutter suburb, but precisely to the overly expensive areas that we're talking about. I know quite a few people, including one of my best friends who turned down a transfer to Austin due to its COL, and they currently live in New York. I've also worked out that living in Austin would cost more per month than it would in New York for me, mainly due to the necessity of having a car, something I don't have right now. Rents are actually not much cheaper out there for something nice.
In any case, I wish Austin the best and hope it can solve its housing issue.
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Austin isn't just a hip place to live in anymore, it's a place where people want to move to and put down roots. It has matured.
I think Austin does have a severe issue in the short term (1-3 years) but it just needs the bottlenecks to unclog. As you noticed earlier, it has lots of new infrastructure and open space in the eastern half.