[HN Gopher] Plunging Home Prices, Fleeing Companies: Austin's Gl...
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Plunging Home Prices, Fleeing Companies: Austin's Glow Is Fading
Author : elsewhen
Score : 17 points
Date : 2024-04-26 21:53 UTC (1 hours ago)
(HTM) web link (www.msn.com)
(TXT) w3m dump (www.msn.com)
| arbuge wrote:
| It's a small drop from a pandemic peak that was far above pre-
| pandemic levels. After this small drop, it's still far above
| that.
|
| And that probably is at least somewhat because of all the
| apartment building going on, which is a positive thing.
|
| One notable company "fled" - Oracle, this week.
| chrisco255 wrote:
| I don't even think I've heard that Oracle is reducing its head
| count in Austin. There's currently 4200 Oracle employees based
| in Austin.
| pm90 wrote:
| I interviewed with them for an Austin based position and they
| were lowballing really hard on the offer. I suspect the
| workforce is just too expensive for them now.
| twojobsoneboss wrote:
| Were they lowballing or are those salaries just the new
| market rate?
| chrisco255 wrote:
| Austin fixing its affordability crisis with more housing supply
| and MSM paints it as a bad thing. ATX is as great as it's ever
| been. Samsung continues to expand its footprint, Tesla HQ still
| ramping up production (plus lithium refinery in Corpus), Apple
| expanding with new 82K sq ft building, and fastest growing
| startups (by headcount) are based there:
|
| https://www.signalfire.com/blog/state-of-talent-tech-trends
| astrange wrote:
| One difficulty of lower-the-rent politics is that if you actually
| succeed in lowering rents, the news will report it as a bad
| thing.
| pm90 wrote:
| In this case its housing prices that plunged, not rental rates.
| Are they correlated?
| astrange wrote:
| They aren't always correlated but they are in this case -
| Austin's rents are down because of new construction.
|
| (Which news headlines call "multifamily oversupply".)
| fullshark wrote:
| That's cause everyone actually wants to own a home that
| appreciates in value, they just want their entry point to be
| low.
| pixl97 wrote:
| Or that at least maintains value so you don't take a massive
| loss in the case you have to move.
| pm90 wrote:
| Austin will continue to grow. Texas is the second largest US
| state by size and economy, and Austin is where the left leaning
| tech folks generally tend to go when they are considering Texas
| based opportunities.
|
| Personally it feels overhyped. My current favorite Texas city is
| Houston which is much larger, more affordable and more diverse.
| chrisco255 wrote:
| It's larger to a fault. Houston is so spread out it might as
| well be 5 different cities you're talking about. Driving in
| Houston is a nightmare.
| yowzadave wrote:
| And the only thing worse thank driving in Houston is walking!
| It's easy to find yourself in amid a sea of highways with no
| real way of walking in or out.
| ghaff wrote:
| Dallas, which isn't quite as bad Houston in this regard, I
| could almost see the restaurant I wanted to eat at from my
| hotel, and I had to get in my car and drive there because
| there was no real way to walk. Mind you it's not always
| great in more pedestrian friendly areas but some are worse
| than others.
| ghaff wrote:
| Haven't spent a lot of time there in years but seems a pretty
| unattractive place (for me) to live in general. Austin would
| be my choice in TX but would be pretty low overall.
| MandieD wrote:
| Houston is practically a state, size and population wise.
| hangonhn wrote:
| > My current favorite Texas city is Houston which is much
| larger, more affordable and more diverse.
|
| I really feel Houston is one of the most underrated cities in
| the US. Even if you're left leaning, most of the cities in
| Texas are too. So if Austin is a consideration it seems
| reasonable to consider Houston too. I used to live in Dallas
| and enjoyed my time there. It's also never too far away from
| any city in the US in terms of flying time. Those three Texas
| cities are very livable/affordable and people are quite nice.
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(page generated 2024-04-26 23:00 UTC)