Monday, February 15, 2010

Double Dip Real Estate Plunge Says Zillow Econ

I know he doesn't mention Texas as a double dipper, but the same forces will be at work in Austin...especially at the high end. Failed HAMP, rising rates, unemployment, and more foreclosures. All US real estate markets are linked, much of the money that would buy expensive Austin homes comes from other areas of the US.

- Mr. Bubble


  1. Austin is terribly overrated. They basically pay companies to move there with cash incentives (culled from the exorbitant and growing property taxes) where the breaking-even point is 30-35 years down the road. The idea is that it creates more jobs, but if a company relocates, particularly in this economy, very few employees will opt to not move with the company.