It's exactly what they do, give you half truths to spin a narrative. The neighborhood they talked about, they didn't even bother to get the information as to why it was abandoned. That developer was defrauding its investors.
@JeremyAKnight lmao your not even fucking from here, have your own youtube channel and are a agent. Your the exact type of hypocritical piece of shit I was talking about in the interview that has pushed native Austinites out.
To my own research In USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
I've remained in touch with a financial analyst since the start of my business. Amid today's dynamic market, the key difficulty is pinpointing the right time to buy or sell when dealing with trending stocks - a seemingly simple task but challenging in reality. My portfolio has grown by more than 5 figures within just a year, and i have entrusted my advisor with the task of determining entry and exit points.
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
Vivian Jean Wilhelm a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
How are they trying to turn Austin in California. Austin is a little liberal enclave with it's own little vibe. During COVID a bunch of Conservatives from California packed up and moved there follow people like Elon Musk who only moved to Texas so he could sell some Tesla stock and not pay state tax. So caused a huge building boom just like ones Houston and the DFW area have had for twenty years. But where is the supposedly making Austin more like Cali other than because so many conservatives move out of California they fucked up Austin's prices.
The crazy thing is, Abbott is allowing developers to destroy productive farmland the fastest in the country for globalist industries and homes,….. and he WILL be reelected!!! You voted for it, you deserve it!!!🤣🤡👍
The path forward is obvious. All credit feasts turn into credit famines, and this was the mother of all feasts. What isn't obvious is just how much the government is willing to print/and or distort the free market to make sure that path is not taken (again). We will know the answer to that over the next 36 months.
Bought a new build home in 2004. Forward to 2008. The home builder of our community was the first contractor in Colorado to file bankruptcy. They had three communities being built on the front range of Colorado. Thankfully they indeed finished the remaining 12 homes in our neighborhood. The other two was about half built out. Became a massive problem for them. They sold the remaining 12 homes in our neighborhood to an investor. I think that is how they were able to finish. The investor wanted to rent them out but never read our bylaws that you couldn't rent homes out in our neighborhood. Homes were forclosed on. Took only a two years to get bought up as our neighborhood became very popular because of the large autumn fire maples they planted!...
Sad that it is not isolated in Austin anymore…it is crawling into the other small towns. SO SAD! Our beautiful state of trees, ranches, and wildlife is quickly turning into cities of concrete.
That abandoned new home community is shocking. I live in Austin area and I've never seen or even heard of such a thing. Wowza! However, I must point out an opposite point of something you said: you said to buy into a new home community at the end of their sales cycle. Hmm.... What I've seen is this: new home builders continually *raise the prices* of new homes as they build-out their new communities. So if you come at the end, you are practically guaranteed to pay the highest price. Also, as the community gets built-out, the new buyer will have fewer and fewer *options*. Fewer lots to choose from. Maybe fewer floor plans which the builder is willing to build on those remaining lots. Also, you said, "Be sure you have a realtor" when buying a new home. That has not been my experience. I know you are a realtor, and I don't mean to get in your face, you did say that. I have *first hand experience* when I was looking to have a new home built where realtors had *their own preferences in mind* as to which builder I should use. I later found out - and I saw written documentation to prove this from a builder itself - that builders are *directly compensating real estate brokers* for bringing clients to them ... and ... their compensation *rates* go up in a stair case way, whereby as the realtors bring them more clients, the builder will pay out higher commissions to the realtor. Now does that sound like a good thing for the buyer? No way. This is classic conflict-of-interest.
Good Job, Travis and Melody. Full of information not found elsewhere. I enjoyed it. I understand that it took a lot of effort on your part. Thank you for doing this.
Permit system needs to be drastically simplified and many permits eliminated. The permit office failed to file its own permit is just hilarious and insane
I know that abandoned subdivision. I use to work for the roofer that installed the few roofs before the builder lost funding. I know for a fact none of the contractors got paid for what was completed.
Extremely well done video. This is what financial journalism is about. I was a journalism major in college with a Masters Degree and went into finance many years ago. Your video has inspired me to dust off my journalism skills and make a change. Great work Melody, Travis and Austin.
I wonder when this will pop off in Tampa and Orlando, so far we are on the same path data wise. Same issues with the fraud. I think the unspoken contributing factor many are not thinking of is just how many fraud PPP loans are linked to the purchases in 2020-2022.
@@m3_melody You're welcome :) Shouldn't have to feel nervous about it. Personally, I think we focus too much details on historical events and not enough on the *causes* of said events.
@@Starfish2145 overcrowded, crappy weather, horrible/mental drivers, traffic everywhere, cost of living increases, etc. Austin is overrated in my opinion, but a lot of people seem to like it. It was certainly not for me though.
Work in Austin live 40 miles from my job. Look at Jarrell, tx house prices are all over the places. New builds 370 and I couldn’t sell my house for 280.
I lived in Austin for 54 years until 2020. I remember back in 1983 we were saying, "Welcome to Texas. Now get the hell out." I have seen a couple of real estate crashes over the years. I saw a UA-cam video yesterday from 1993, and Eddie Wilson from Threadgills was saying, "Austin is full. Stay home and watch us on tv." What did Bob Dylan say? The times they are a'changing. Time never stays still, folks. Change is inevitable.
Oh awesome, developing with a crowbar. I saw that in Santa Barbara. Tear down a cute little city bungalow and jam 9 tiny condos on the lot without enough parking. What a mess. And I think universities negatively affect and influence the cities they are in.
When buying, you can deduct mortgage interest for tax filing. That should be factored in. Plus, there is more flexibility in what you can do with your house when you own it.
I'm a retired firefighter in Austin. I have watched these trends for almost 40 years. I was also in the Air Force Reserve and traveled all over the US and internationally. I saw how other city and states were run, especially California and NY. I watched the rapid influx of people from those other states, people who wanted to live the life styles they had before without the issues they had in those states. But, in many cases, they brought their sensitivities with them. Austin's city council has been a mess for decades, but it has become untenable in the last few decades. Austin's greatness in the past was it's blend of proper government(State Capital) controls mixed with the looseness of it's weirdness(remember Aquafest). But that seemed to start to end by the late '90's. Since then, it grew too fast for the (no growth)highways and other lack of infrastructure and went completely "woke" as it started it's downfall. Complete "Woke Weirdness" took over. Unregulated growth, lack of infrastructure and "Woke Weirdness" without proper controls leaves a failing city. Ironically, the same problems all these people supposedly moved away from. Uncontrolled growth, annexation and inflated property value all for tax purposes but without thoughtful use of those taxes. Like way behind slow road growth due to uncontrolled "no-growth" extreme environmentalist, woke defunding the police, reduction in crime punishment, and other failing city services. Leading to inflated property value, uncontrolled homelessness as well as increased crime. I saw the same thing on a smaller scale in the early '80's after the recession of the '70's. Unregulated growth without proper controls or infrastructure. City services couldn't keep up and failed. Then the city had a small "bubble burst" in the late '80's. It took several years to recover. Then cheap abundant housing and vacant commercial property and plenty of room drove the next wave. And the very thing that help drive the bust was the cause of the next one. Low property values and plenty of room drove another huge influx of mainly California people who sold small homes there for bigger cheaper ones here. But that started driving up prices and then they also started voting. The next decade or so the city rapidly grew and ran "fairly" smoothly. Then the 2008 financial crisis put on the brakes for a moment, but then the cycle continued. By then, Austin was on the map both in the US and internationally(CODA) with a much larger city, more available commercial square footage and more housing availability in a business friendly state. Allowing for the population growth the "boom" was much larger and has lasted longer. Now it's been just over a decade from that 2008 recovery to where it is today. An overgrown unregulated growth and uncontrolled society (woke defund the police)crime ridden and failing city. AGAIN! Sure, it's still got some charm, but at what cost?
I would ask you for a boots on the ground in California, but I’d rather you prioritize your own safety first than risk walking around SF or Oakland streets.
Prices in phoenix are still double and no end in sight apparently because of semiconductoer factorys moving here the average person here has no chance of buying a home where parts of texas are half the price?
That abandoned development is crazy. In my area buyer demand and new building are still fairly strong. Foreclosures are still low. Existing home sales are not rising as much as would be normal for the spring season. I expect things will change, but it will take some time.
Austin had friendly permitting. Allowing massive building. Hopefully a big housing stock allows for lower housing cost, less homelessness. As long as business stay. Should balance out. Looser yes. The big win more affordable housing. Let it hit rock bottom. Wait for the start of recouperating to make sure the bottom is there. Then jump in if you like the town. Prefer developers stay in multifamily, retail, commercial, industrial, public works and institutional. Stay out of short term rentals of condos/sfr and residential flipping to help prevent the out of control train of rising housing cost.
@@MostlyPeacfulRiotsI wish we had the same issue here In San Diego. Yesterday I put an offer at asking price for 775k on a duplex a 6br and 4ba and lost to a bidding war.
God bless you both. People have run out of places to buy housing. Its either price, income tax, property tax, HOA, if not low local income. If you have it all, weather is surely no good or there is crime
If governments are more responsible to their citizens. example STOP printing money that devalues citizens' wealth. Stop making the government too BIG. our money/wealth whatever we have will go further.
🎉🎉🎉 Seems like nothing surprises me anymore BUT WOW 😮💥This is way beyond DOUBLE BONKERS! Thank you Travis so much for these Boots on the ground videos. You and Melody make a great team. And Thank you Mrs. Travis for letting your husband go and do these videos. Blessings,Carlos ✝️🙏❤️😊🇺🇸
Yeah, a lot of Japanese had that same mentality about Tokyo in 1989...and they regretted it for 25 years. People will say that the US is different, but I don't know, the demographic situation and the fiscal recklessness are similar enough to keep me out of the FOMO mindset.
@@avonti001 Yes, these side effects happen if you add Democrats into the mix. Our conservative county is growing like mad because people are escaping the leftist hell hole that is Houston but it's still peaceful and low crime here because our judges and prosecutors put criminals in jail and keep them there.
This long-time Austinite is THRILLED to see things grinding to a halt and cooling off. We need more people to leave. Don't move to Austin! We're friendly, but we've had it with all the growth. It's killing the city's fantastic vibe.
If you want 20k a year tax bills come 😢on down. If you want 750 electric bills in the summer come on down If you want home insurance premiums at 5k a year come om down If you want 3 months of 100 degree weather you will love it. Im 5th generation Texan and im out of here.....had enough. The regulation on business ...the migrants not here legally...
@@1995texasaggie good luck to you. Texas basically had no federal government until the 80s.i will be back after we throw those BSTRDS out. We bought a place in a town with 1200 people in the rockies. Were bugging out
@@1ireneaustin With talk of tearing down the upper deck of I-35, I think you've made a great decision. Austin was a pretty cool place until the end of the 80s. Rock on n/
@jhorton4329 Tesla is suffering because 1. Elon Musk seems to be losing his grip. And 2. Several other auto makers are producing good EVs. Instead of investing in updating the existing models, and really focusing on expanding the charging network, Musk built ridiculous his cybertruck trash. Meanwhile, Tesla has lost their headstart in the industry. But EVs aren't going anywhere. My husband just got a Hyundai Ioniq and it's gorgeous, super roomy inside, and has a 350-mile range.
53yo Native Texan here. Born in Texas City, Raised from the age of 6 in and around Austin. Six years ago I'd had enough and moved an hour N. to Bertram. Up until 6 yrs ago, I was proud to say I was from the ATX. 100% NOT anymore. You can almost smell the greed in the air downtown, but you cant due to the smell of piss and bums. Thanks for the memories but I'll stick to my clear skies, quiet streets and zero crime. Cool video though.
We live in a suburb north of Austin. We are watching builders pull out of multi family untis. They are now just sitting not finished. No one is working. The wood is turning black. So sad to see.
I've seen at least one similar development in San Antonio. Drive by it nearly every week, and zero new work. It looks like the framers just walked off one day and never returned. Wood is also turning black. They're going to have to tear it down now if they want to continue to build.
Sounds like a great opportunity to pick up some building materials: plywood, drywall, plumbing fixtures, sinks AND free transients if you need people who don't want to work. 🎉
in Round Rock they won't stop building and people keep filling them. I'm not real sure of the draw to the area but because they're building so many apartment complexes nearby, my small single family home is losing value, which is not a typical trend it's pretty bizarre actually
Austinte here, everything said in this video is 100% correct. Prices were appreciating double digit %'s before Covid, then everything just skyrocketed. Great video y'all!
The median priced house in the USA today needs to drop at least 50% in price so that the median income American can afford to buy it. Food for thought about the sad state of our nation, after 40-50 years of our sell-out, corporatist political duopoly in action.
And no one buys houses either way as everyone loves in vans since rich people want to use land as hard assets since no one has income they vote for only prop taxes and then all landlords get liquidated and prop values crash by 99% GG get wrecked just deserts
Last time I went to Austin, I could barely recognize it from when I last lived there in 2015. Both the skyline as well as the demographics have changed so much. The insane growth is not without problems; The homeless issues around the city remind me of when I lived in the Bay Area of CA. It’s crazy that Austin is trending in that direction. Happy to see RE is correcting out there. Great content Travis & Melody.
My husband, daughter, and I had moved to Austin (from Florida) during the GFC because it had ranked as one of the best places for job seekers and families at that time (our daughter was only a toddler at the time). We were able to find a duplex for a nice cheap rental rate due to the new owner buying the place just as the housing market bottomed out. It was by a creek which was extra nice. Fast forward to recent years and the place got sold and we could see homeless camps under the bridge and along the creek more and more. The new owner put a lot of money into revamping the place but now the insurance and taxes got very high for her so the rental ballooned. BYE! I checked the FEMA report too out of curiosity (a habit I did every time there was heavy rain and floods). Up until recently, the duplex was fine. Now due to climate change and all, there is over 90 percent chance of significant damage happening to the place after another heavy storm. I had noticed the creek looking scarier each time there was a storm and we could even hear the heavy water flow inside with windows shut and TV on. My daughter keeps asking when we are going back. She is disabled and I cannot get her to understand, we won't be going back, that the things we liked about living there are gone and we aren't even "stuck" anymore (jobs wise, not even her school) due to my husband retiring and her enrolled in online public schooling. There were a few other final nails in the coffin as well for us as far as remaining which offered plenty of reassurance that we did the right thing by moving out of that duplex but that is another morbid tale.
@@apple2092When rental and home prices increases, the existing stock of rentals does up. Many can't keep pace with the increases. Some are then forced to live on the streets. It all makes sense, but there's little compassion when money is involved.
You're one of the few ppl paying attention. I refuse to buy a house if Values don't start coming down. I don't care about rates. I can always refinance when they come down.
@@diesel104It's lpl about the rates. If rates are 2-3%, most people making over $100k can easily afford the mortgage payments up to, what, a $800k home?
@@FeelingPeculiar No that’s wrong. Someone making $100k cannot afford an $800k house at 3% interest. Even assuming a 20% down and 30-year mortgage would have a $4,200 monthly payment plus $1,800/mo for taxes and insurance (on the low side). That’s $6,000/mo or 72,000/year vs a take home pay of about $75,000. You would need to be making $200,000/year to even be considered for a loan of $640k (80% of $800k) and that really isn’t enough to make it a sound purchase.
When i purchased my 1st property in 1998 interest rate where 8.5%. purchased for $96k easy low mortagage payment. It is not the interest amount causing this issue. it is the over priced property values that people can't afford to pay, taxes are sky high. Same here, moving out of Austin, right now is not the time to buy or sell,, unless you got the money on hand. Or you save and get ready to offer cash..
Thank you for keeping us informed on so many levels. I feel like the more I learn about our country low income people my anger grows, Thanks Arleth, Imagine investing $1000 and receiving $5,450 in 3days.🇺🇸
@@sheraspencer I felt so loved and welcomed....and awed by your amazing children (and the woman behind them). So glad to finally meet the person behind the voice. Thank you so much again.
I work in multi family they are all in a panic, to keep occupancy up. Im currently just temping to make extra $$$ so I go all over town working in different properties. Residents are noticing that their renewal rates are higher than the new residents moving in.
This is what reporters used to do - REPORT!
Great reporting piece Melody, Austin, and Travis, thank you.
Thank you so much. The kind words mean a lot to us. Putting our heart and soul out there.
It's exactly what they do, give you half truths to spin a narrative. The neighborhood they talked about, they didn't even bother to get the information as to why it was abandoned. That developer was defrauding its investors.
You're right. This is where we get our real news. I gave up on the big networks years ago.
@JeremyAKnight lmao your not even fucking from here, have your own youtube channel and are a agent. Your the exact type of hypocritical piece of shit I was talking about in the interview that has pushed native Austinites out.
To my own research In USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
I've remained in touch with a financial analyst since the start of my business. Amid today's dynamic market, the key difficulty is pinpointing the right time to buy or sell when dealing with trending stocks - a seemingly simple task but challenging in reality. My portfolio has grown by more than 5 figures within just a year, and i have entrusted my advisor with the task of determining entry and exit points.
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
Vivian Jean Wilhelm a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
The crazy thing is they moved from Cali and NY to Texas and now they are trying to turn Austin into Cali and NY.
Exactly, instead of staying in their states and fixing. Their problems they created.
How are they trying to turn Austin in California. Austin is a little liberal enclave with it's own little vibe. During COVID a bunch of Conservatives from California packed up and moved there follow people like Elon Musk who only moved to Texas so he could sell some Tesla stock and not pay state tax. So caused a huge building boom just like ones Houston and the DFW area have had for twenty years. But where is the supposedly making Austin more like Cali other than because so many conservatives move out of California they fucked up Austin's prices.
The crazy thing is,
Abbott is allowing developers to destroy productive farmland the fastest in the country for globalist industries and homes,….. and he WILL be reelected!!!
You voted for it, you deserve it!!!🤣🤡👍
@@BTCforce Austin is the sister city of San Diego, what the heck did anyone expect it to turn out to be?
Who is "they"?
I remember these abandoned new builds from 2008. It's happening already whether anyone admits it or not.
The path forward is obvious. All credit feasts turn into credit famines, and this was the mother of all feasts. What isn't obvious is just how much the government is willing to print/and or distort the free market to make sure that path is not taken (again). We will know the answer to that over the next 36 months.
Bought a new build home in 2004. Forward to 2008. The home builder of our community was the first contractor in Colorado to file bankruptcy. They had three communities being built on the front range of Colorado. Thankfully they indeed finished the remaining 12 homes in our neighborhood. The other two was about half built out. Became a massive problem for them.
They sold the remaining 12 homes in our neighborhood to an investor. I think that is how they were able to finish. The investor wanted to rent them out but never read our bylaws that you couldn't rent homes out in our neighborhood. Homes were forclosed on. Took only a two years to get bought up as our neighborhood became very popular because of the large autumn fire maples they planted!...
My old stomping grounds. We left because it’s not the same. Too much traffic and the infrastructure is still not up to par. Excellent analysis!!!
Sad that it is not isolated in Austin anymore…it is crawling into the other small towns. SO SAD! Our beautiful state of trees, ranches, and wildlife is quickly turning into cities of concrete.
That abandoned new home community is shocking. I live in Austin area and I've never seen or even heard of such a thing. Wowza!
However, I must point out an opposite point of something you said: you said to buy into a new home community at the end of their sales cycle. Hmm.... What I've seen is this: new home builders continually *raise the prices* of new homes as they build-out their new communities. So if you come at the end, you are practically guaranteed to pay the highest price. Also, as the community gets built-out, the new buyer will have fewer and fewer *options*. Fewer lots to choose from. Maybe fewer floor plans which the builder is willing to build on those remaining lots.
Also, you said, "Be sure you have a realtor" when buying a new home. That has not been my experience. I know you are a realtor, and I don't mean to get in your face, you did say that. I have *first hand experience* when I was looking to have a new home built where realtors had *their own preferences in mind* as to which builder I should use. I later found out - and I saw written documentation to prove this from a builder itself - that builders are *directly compensating real estate brokers* for bringing clients to them ... and ... their compensation *rates* go up in a stair case way, whereby as the realtors bring them more clients, the builder will pay out higher commissions to the realtor. Now does that sound like a good thing for the buyer? No way. This is classic conflict-of-interest.
Good Job, Travis and Melody. Full of information not found elsewhere. I enjoyed it. I understand that it took a lot of effort on your part. Thank you for doing this.
Just wild! I saw a 1mm home build abandoned and being sold as a frame for 300k here, but a whole community!?! Sheesh
Permit system needs to be drastically simplified and many permits eliminated. The permit office failed to file its own permit is just hilarious and insane
I know that abandoned subdivision. I use to work for the roofer that installed the few roofs before the builder lost funding. I know for a fact none of the contractors got paid for what was completed.
What's the address of that place?
Extremely well done video. This is what financial journalism is about. I was a journalism major in college with a Masters Degree and went into finance many years ago. Your video has inspired me to dust off my journalism skills and make a change. Great work Melody, Travis and Austin.
A city without any major sports team. Such an overrated place, no wonder you find abandoned communities.
I love the on the scene segment. Austin needs to join the team, he was informative. This was awesome!
I wonder when this will pop off in Tampa and Orlando, so far we are on the same path data wise. Same issues with the fraud. I think the unspoken contributing factor many are not thinking of is just how many fraud PPP loans are linked to the purchases in 2020-2022.
Bonkers! Travis you're kill it man! Appreciate your hard work and bringing people the truth!
Too much growth is terrible for any neighborhood.
Thank you both for the information. I'm still holding out on buying my dream home.
Real journalism. Bravo. Rare these days.
I love your reporting! We need more in all areas like you to get the real truth and look put for one another. Great job!!
Lived in Austin for 6 years, absolutely hated it. Fantastic video y'all! That ending with Melody was...*chef's kiss*
So glad you liked it and thank you. We were a bit nervous about it :)
@@m3_melody You're welcome :) Shouldn't have to feel nervous about it. Personally, I think we focus too much details on historical events and not enough on the *causes* of said events.
Why did you hate it?
@@Starfish2145 overcrowded, crappy weather, horrible/mental drivers, traffic everywhere, cost of living increases, etc. Austin is overrated in my opinion, but a lot of people seem to like it. It was certainly not for me though.
Austin is horrible. Stop moving here.
Taxes in Texas suck
Loved this boots on the ground approach with interviews. Well done!
Work in Austin live 40 miles from my job. Look at Jarrell, tx house prices are all over the places. New builds 370 and I couldn’t sell my house for 280.
Austin has turned out to be an embarrassment to the people of Texas.
That abandoned neighborhood gave me flashbacks to 2010
I lived in Austin for 54 years until 2020. I remember back in 1983 we were saying, "Welcome to Texas. Now get the hell out." I have seen a couple of real estate crashes over the years. I saw a UA-cam video yesterday from 1993, and Eddie Wilson from Threadgills was saying, "Austin is full. Stay home and watch us on tv." What did Bob Dylan say? The times they are a'changing.
Time never stays still, folks. Change is inevitable.
Oh awesome, developing with a crowbar. I saw that in Santa Barbara. Tear down a cute little city bungalow and jam 9 tiny condos on the lot without enough parking. What a mess. And I think universities negatively affect and influence the cities they are in.
When buying, you can deduct mortgage interest for tax filing. That should be factored in. Plus, there is more flexibility in what you can do with your house when you own it.
I'm a retired firefighter in Austin. I have watched these trends for almost 40 years. I was also in the Air Force Reserve and traveled all over the US and internationally. I saw how other city and states were run, especially California and NY. I watched the rapid influx of people from those other states, people who wanted to live the life styles they had before without the issues they had in those states. But, in many cases, they brought their sensitivities with them. Austin's city council has been a mess for decades, but it has become untenable in the last few decades. Austin's greatness in the past was it's blend of proper government(State Capital) controls mixed with the looseness of it's weirdness(remember Aquafest). But that seemed to start to end by the late '90's. Since then, it grew too fast for the (no growth)highways and other lack of infrastructure and went completely "woke" as it started it's downfall. Complete "Woke Weirdness" took over. Unregulated growth, lack of infrastructure and "Woke Weirdness" without proper controls leaves a failing city. Ironically, the same problems all these people supposedly moved away from. Uncontrolled growth, annexation and inflated property value all for tax purposes but without thoughtful use of those taxes. Like way behind slow road growth due to uncontrolled "no-growth" extreme environmentalist, woke defunding the police, reduction in crime punishment, and other failing city services. Leading to inflated property value, uncontrolled homelessness as well as increased crime. I saw the same thing on a smaller scale in the early '80's after the recession of the '70's. Unregulated growth without proper controls or infrastructure. City services couldn't keep up and failed. Then the city had a small "bubble burst" in the late '80's. It took several years to recover. Then cheap abundant housing and vacant commercial property and plenty of room drove the next wave. And the very thing that help drive the bust was the cause of the next one. Low property values and plenty of room drove another huge influx of mainly California people who sold small homes there for bigger cheaper ones here. But that started driving up prices and then they also started voting. The next decade or so the city rapidly grew and ran "fairly" smoothly. Then the 2008 financial crisis put on the brakes for a moment, but then the cycle continued. By then, Austin was on the map both in the US and internationally(CODA) with a much larger city, more available commercial square footage and more housing availability in a business friendly state. Allowing for the population growth the "boom" was much larger and has lasted longer. Now it's been just over a decade from that 2008 recovery to where it is today. An overgrown unregulated growth and uncontrolled society (woke defund the police)crime ridden and failing city. AGAIN! Sure, it's still got some charm, but at what cost?
I would ask you for a boots on the ground in California, but I’d rather you prioritize your own safety first than risk walking around SF or Oakland streets.
I like the news style reporting.
Prices in phoenix are still double and no end in sight apparently because of semiconductoer factorys moving here the average person here has no chance of buying a home where parts of texas are half the price?
Thanks for this presentation
Very solid reporting thanks so much!
That abandoned development is crazy. In my area buyer demand and new building are still fairly strong. Foreclosures are still low. Existing home sales are not rising as much as would be normal for the spring season. I expect things will change, but it will take some time.
I moved from Texas 7 years ago and know it’s cooperate greed that has changes everything. Austin used to be such a cool place.
Rents are insanely cheap in austin compared to buying. You can rent a 750K home for like $2000 right now
Austin had friendly permitting. Allowing massive building. Hopefully a big housing stock allows for lower housing cost, less homelessness. As long as business stay. Should balance out. Looser yes. The big win more affordable housing. Let it hit rock bottom. Wait for the start of recouperating to make sure the bottom is there. Then jump in if you like the town. Prefer developers stay in multifamily, retail, commercial, industrial, public works and institutional. Stay out of short term rentals of condos/sfr and residential flipping to help prevent the out of control train of rising housing cost.
Realistically, the recession kicked in hard in Dec '22. When people sell their personal wares at the side of the road that's desperation.
Come on!! We went from 250k for new home to 497k. Dropping down to 330k to 370k is still a win
Wow, you have come a long way brotha the quality of content is improving! Great videos and information 👍
👍
Thanks for the insight into Austin, Austin!!!!🤷🤷
Was such a blessing to connect with you while in town. Thank you so much again!
@m3_melody No thank you!!!!! Yall call me for the after apocalypse video 😃
Took me 17 minutes to realize that Austin guy was @dontmove2tx 😭😂 Good job brother 👏
@@MostlyPeacfulRiotsI wish we had the same issue here In San Diego. Yesterday I put an offer at asking price for 775k on a duplex a 6br and 4ba and lost to a bidding war.
Can u tell us where this unfinished community is located? Where in the Austin area exactly?
God bless you both. People have run out of places to buy housing. Its either price, income tax, property tax, HOA, if not low local income. If you have it all, weather is surely no good or there is crime
If governments are more responsible to their citizens. example STOP printing money that devalues citizens' wealth. Stop making the government too BIG. our money/wealth whatever we have will go further.
This is what happens when Austin tries doing things (D)ifferently.
Hmmm..."You can do anything you want in Austin, and no one will judge you." Powerful closing words by two wayward souls.
Those young women are too young to have an opinion if the city has changed....
Sellers want 300k for a home in magnolia like it was in Houston 😂
Please do Corpus Christi.. new build 🤗🤗
Pflugerville is hot. Prices going up cause it's safe has its own police not commies
Austin, just one of the handful of cities Californians and NY’res have destroyed.
3:55 I heard this guy drives an Austin Healey.
No one wants to live in that kind of city.
Ya'll are dynamite, keep up the collabs
Where is the abandoned community? Who is the builder?
Great work!
Booths on the ground working hand and hand..
Get ready folks
Great freaking episode
open drug markets in every major city, unacceptable
Good report!
Boots on the ground.. Great upload..
Do the builder pay back deposists to customers for these abandoned houses?
What’s your lens set up that boca is nice!
Great content. I love this!!!
Why is the camera focus so weird. Austin weird I guess
THANK YOU, STEPHEN ADLER, HOW YOU AND LIBERALS SCREWED UP ONE OF THE MOST BEAUTIFUL PLACES.
YOU WANTED GOD OUT, WELL WELCOME TO A LOOK AT HELL.
great video! bonkers!
🎉🎉🎉 Seems like nothing surprises me anymore BUT
WOW 😮💥This is way beyond DOUBLE BONKERS!
Thank you Travis so much for these Boots on the ground videos. You and Melody make a great team.
And Thank you Mrs. Travis for letting your husband go and do these videos.
Blessings,Carlos ✝️🙏❤️😊🇺🇸
Buy it up, it never stops. I would buy that neighborhood if I could.
Yeah, a lot of Japanese had that same mentality about Tokyo in 1989...and they regretted it for 25 years. People will say that the US is different, but I don't know, the demographic situation and the fiscal recklessness are similar enough to keep me out of the FOMO mindset.
@@CaptainCaveman1170 it was booming way before Tesla and cv was there. It will keep growing.
Awesome video, Can you do San Antonio in the future?
AND I HATE THEM!!!
Oooo....looks prime for squatting 😊
reminds me of California 20years ago
What are your thoughts on Arizona?
That abandon new build area gives me 2006/07 vibes.. watch out next year.
Just like Vegas 😢
My thoughts exactly.
High taxes, high crime, high rents (that businesses can't afford) is killing Austin.
Sounds like California. Oopsie
Side effects of growth!!
@@avonti001 Yes, these side effects happen if you add Democrats into the mix.
Our conservative county is growing like mad because people are escaping the leftist hell hole that is Houston but it's still peaceful and low crime here because our judges and prosecutors put criminals in jail and keep them there.
This long-time Austinite is THRILLED to see things grinding to a halt and cooling off. We need more people to leave. Don't move to Austin! We're friendly, but we've had it with all the growth. It's killing the city's fantastic vibe.
If you want 20k a year tax bills come 😢on down. If you want 750 electric bills in the summer come on down
If you want home insurance premiums at 5k a year come om down
If you want 3 months of 100 degree weather you will love it. Im 5th generation Texan and im out of here.....had enough. The regulation on business ...the migrants not here legally...
I sold a piece of land in East Austin since the property taxes rose to $38k/year.
@@1995texasaggie good luck to you. Texas basically had no federal government until the 80s.i will be back after we throw those BSTRDS out. We bought a place in a town with 1200 people in the rockies. Were bugging out
@@1ireneaustin With talk of tearing down the upper deck of I-35, I think you've made a great decision. Austin was a pretty cool place until the end of the 80s. Rock on
n/
Blame the city fathers. They raise taxes on residents and give tax money incentives to big box stores, causing private businesses to close.
Boots on the ground, showing the real America. Keep up the great work!
Thank you!
Great work Travis and Melody!! 👍👍👍
except they didn't even get good information. They could've easily googled that neighborhood to figure out why it was abandoned.
I feel bad for those Tesla workers that just purchased their homes and are getting laid off.
When you drink the EV Kool aid, and you can't critically think for yourself, you see the results. Is the EV plant next to a Crocs manufacturing plant?
@jhorton4329 Tesla is suffering because
1. Elon Musk seems to be losing his grip. And
2. Several other auto makers are producing good EVs.
Instead of investing in updating the existing models, and really focusing on expanding the charging network, Musk built ridiculous his cybertruck trash.
Meanwhile, Tesla has lost their headstart in the industry.
But EVs aren't going anywhere. My husband just got a Hyundai Ioniq and it's gorgeous, super roomy inside, and has a 350-mile range.
can you say “bubble”
@@annekai too expensive & inconvenient to recharge on road, expensive battery replacement cost, resale is bad. No thanks
@@delaville680 $30 month to charge with a charge pass, instead of $150 gas. Yay!
53yo Native Texan here. Born in Texas City, Raised from the age of 6 in and around Austin. Six years ago I'd had enough and moved an hour N. to Bertram. Up until 6 yrs ago, I was proud to say I was from the ATX. 100% NOT anymore. You can almost smell the greed in the air downtown, but you cant due to the smell of piss and bums. Thanks for the memories but I'll stick to my clear skies, quiet streets and zero crime. Cool video though.
Indeed the *greed* in Austin is unbelievable.
Real talk
We were there 18 years. So glad we got out of that blue hive.
Very true sadly San Antonio is like that as well
yes - native dallas person here totally agree. can literally smell the greed as the new paint dries.
As soon as Tesla announced they were moving to Austin, the property value doubled.
And now that they’re not…
Doubled before that
The people who work at Tesla can’t buy a house in Austin, so that makes no sense.
We live in a suburb north of Austin. We are watching builders pull out of multi family untis. They are now just sitting not finished. No one is working. The wood is turning black. So sad to see.
World government housing programs work in lock step with "tech industry". It is orchestrated by finance and not economics.
I've seen at least one similar development in San Antonio. Drive by it nearly every week, and zero new work. It looks like the framers just walked off one day and never returned. Wood is also turning black. They're going to have to tear it down now if they want to continue to build.
Off of Woodrow just west of Lamar?
Sounds like a great opportunity to pick up some building materials: plywood, drywall, plumbing fixtures, sinks AND free transients if you need people who don't want to work. 🎉
in Round Rock they won't stop building and people keep filling them. I'm not real sure of the draw to the area but because they're building so many apartment complexes nearby, my small single family home is losing value, which is not a typical trend it's pretty bizarre actually
If you are wondering, this abandoned community is SOUTHSTONE CONDOMINIUMS in Austin 78745
On davis lane
@@manuche512- that seems like it’s almost in dripping Springs.
No its by dittmar recreation center actually on dittmar road between south 1st and menchaca. The gate is actually open now
I thought so
Austinte here, everything said in this video is 100% correct. Prices were appreciating double digit %'s before Covid, then everything just skyrocketed. Great video y'all!
But now it’s a dumpster fire.
Same thing has happened in Florida.
😮😮😮😅😅
Thank you so much for the confirmation and local intel. And, thank you for the kind words.
Now people are realizing that it’s a furnace so moving back.
The median priced house in the USA today needs to drop at least 50% in price so that the median income American can afford to buy it. Food for thought about the sad state of our nation, after 40-50 years of our sell-out, corporatist political duopoly in action.
With endless fiat currency printing, this artificially increases home prices. The game is over. Banks will fail, gold/silver/oil will skyrocket up.
And no one buys houses either way as everyone loves in vans since rich people want to use land as hard assets since no one has income they vote for only prop taxes and then all landlords get liquidated and prop values crash by 99%
GG get wrecked just deserts
I’m looking forward to 50 percent off. not the list price, but 50 percent off what the flipper or investor paid for it.
If it drops by 50% the country will be in the great depression and you won't be able to buy.
So, what happens to the high costs of building materials used to build them?
Last time I went to Austin, I could barely recognize it from when I last lived there in 2015. Both the skyline as well as the demographics have changed so much. The insane growth is not without problems; The homeless issues around the city remind me of when I lived in the Bay Area of CA. It’s crazy that Austin is trending in that direction. Happy to see RE is correcting out there. Great content Travis & Melody.
Thank you so much for the comments
My husband, daughter, and I had moved to Austin (from Florida) during the GFC because it had ranked as one of the best places for job seekers and families at that time (our daughter was only a toddler at the time). We were able to find a duplex for a nice cheap rental rate due to the new owner buying the place just as the housing market bottomed out. It was by a creek which was extra nice. Fast forward to recent years and the place got sold and we could see homeless camps under the bridge and along the creek more and more. The new owner put a lot of money into revamping the place but now the insurance and taxes got very high for her so the rental ballooned. BYE! I checked the FEMA report too out of curiosity (a habit I did every time there was heavy rain and floods). Up until recently, the duplex was fine. Now due to climate change and all, there is over 90 percent chance of significant damage happening to the place after another heavy storm. I had noticed the creek looking scarier each time there was a storm and we could even hear the heavy water flow inside with windows shut and TV on. My daughter keeps asking when we are going back. She is disabled and I cannot get her to understand, we won't be going back, that the things we liked about living there are gone and we aren't even "stuck" anymore (jobs wise, not even her school) due to my husband retiring and her enrolled in online public schooling. There were a few other final nails in the coffin as well for us as far as remaining which offered plenty of reassurance that we did the right thing by moving out of that duplex but that is another morbid tale.
The new people are from the Bay area so it's not surprising they brought the Bay area problems with them.
Because some the homeless population are from CA.
@@apple2092When rental and home prices increases, the existing stock of rentals does up. Many can't keep pace with the increases. Some are then forced to live on the streets. It all makes sense, but there's little compassion when money is involved.
People are worried about rates? These people are 🤡's its the price of the homes it used to be in 150k and 200k now its crazy
You're one of the few ppl paying attention. I refuse to buy a house if Values don't start coming down. I don't care about rates. I can always refinance when they come down.
Crazy what people are paying for a house. I was a custom builder for 20 years. You’re just bailing out someone’s poor purchase or greed. Do the math.
@@diesel104It's lpl about the rates. If rates are 2-3%, most people making over $100k can easily afford the mortgage payments up to, what, a $800k home?
@@FeelingPeculiarbut how many people are making 100k?
@@FeelingPeculiar No that’s wrong. Someone making $100k cannot afford an $800k house at 3% interest. Even assuming a 20% down and 30-year mortgage would have a $4,200 monthly payment plus $1,800/mo for taxes and insurance (on the low side). That’s $6,000/mo or 72,000/year vs a take home pay of about $75,000. You would need to be making $200,000/year to even be considered for a loan of $640k (80% of $800k) and that really isn’t enough to make it a sound purchase.
We were in Austin 18 years and bailed out at the right time in 2020. Austin has lost it's marbles.
Nope, should have waited two more years. Would have doubled your money.
When i purchased my 1st property in 1998 interest rate where 8.5%. purchased for $96k easy low mortagage payment. It is not the interest amount causing this issue. it is the over priced property values that people can't afford to pay, taxes are sky high. Same here, moving out of Austin, right now is not the time to buy or sell,, unless you got the money on hand. Or you save and get ready to offer cash..
Fun fact: Austin is in Travis County. Austin and Travis are also the two men in this video.
Melody Ranch was only 108 miles away, a missed opportunity!
Great job Melanie and Travis. You guys are Raising the bar. Equality the quality, the content much much better.
Thank you for keeping us informed on so many levels. I feel like the more I learn about our country low income people my anger grows, Thanks Arleth, Imagine investing $1000 and receiving $5,450 in 3days.🇺🇸
Low income people are suffering to survive, I appreciate her she's a great personality in the state, Imagine receiving $13,670 in few days.
Getting Arleth Coronado to help me really helped me clear all my debts. I started with what I have left and it's been the best decision I ever made.
She changed my life for good, I'm also a beneficiary.
I'm new at this, please how can I reach her?
SHE'S MOSTLY ON TELEGRAMS WITH THE BELOW NAME’
What are the odds that they are lighting them on fire themselves to collect insurance money on these incomplete homes?
They're doing it on the automobile side. So I wouldn't put it past folks.
And that Is why I don't give my life for a company. Companies don't care about people thet Is not the main purpose of companies.
Y'all covered so much in this video! Great boots on the ground coverage finding things people haven't seen yet! ❤
Thank you so much for watching! It was from the ♥
@@m3_melody it was so nice finally meeting you in person Melody! I hope you felt truly welcomed and loved in our home ❤
@@sheraspencer I felt so loved and welcomed....and awed by your amazing children (and the woman behind them). So glad to finally meet the person behind the voice. Thank you so much again.
Great video! I love the interview style !
Thank you, Orlando! It's always nice to hear from you, my friend
I work in multi family they are all in a panic, to keep occupancy up. Im currently just temping to make extra $$$ so I go all over town working in different properties. Residents are noticing that their renewal rates are higher than the new residents moving in.