Real Estate Market Forecast: Austin to Appreciate 30% to 40%

[Neil Narayan]

The real estate market in Austin is hot to say the least and the forecast seems to be even hotter 🤓

[Justin Thorpe]

@Ola Dantis

While I get the west coast joke, I’d say without mincing a word that it is every realtors wet dream (in Austin and in most tier 2 cities in the country) that their local market behaves like how west coast markets have behaved in the last 10 years.

If that was even a remote possibility I can see realtors and investors tripping over each other to get a piece of that action because we are talking massive money.

For what it’s worth that “wannabe west coast” is unfortunately the narrative driving the investment thesis on Austin.

Ask people why is Austin hot? The response is Covid, remote working and how 2 companies from the Bay Area moved their HQ to Austin. That is both unfortunate and deeply pathetic when ideally it should like well Austin is hot because this year alone 20 Austin based companies went IPO or the formation of 40 new unicorns etc.

The Austin tech scene has for years been a one step forward and one step back model. Yes there is tech scene but not quite exploded.

I hope this decade we see a true reckoning of local startups flourishing vs a bunch of people dancing in the streets because 2 Bay Area companies moved HQs.