Housing bubble near??

https://austin.culturemap.com/news/...-about-to-burst-says-real-estate-expert/

It wouldn’t be the first time. Maybe it’ll get some folks to leave.

There’s always a bubble near.

I'm ready let it pop.

Shocked Houston isn't on that list. Homes in our neighborhood are so over-priced it's ridiculous. I've started seeing homes linger on the market a little longer these days though.

Actually falling house prices will attract more people.

They’ll need a job to pay for the house. It’s a domino effect. I’ve seen it happen more than once around here.

There are some crazy square foot prices in the Abilene and San Angelo markets. Wages in this area do not support the prices.

What is near and how big of a bubble?

My youngest daughter saw where the house they sold about four years ago in Austin, on Monroe just off S. Congress (hipsterville central), is up for sale again. 'Asking 1M more. No way this insanity can continue.

If it pops the recession of 07-08 ain’t nothing!!!!

My house has out paced stock market over last 10 years.

The bubbles always hit the coasts worse....just like in 07-08 which really caused people to start flooding into Texas. Another housing pop will make Texas an even more desirable place to live than it is now. Prices never took a big hit in 07-08 like they did in many parts of the country.

As long as businesses and people keep moving to Texas we are pretty well insulated.

I wish it would of hit the gulf coast, I’d buy more!!

I hope it burst, setting on the sidelines now with cash to scoop a few properties up.

Bring it!

Yep. Austin, DFW, Houston are where all the implants come for the job markets and that's why it's insane in these metros now and future. South of Austin, San Antonio area is more military and tourism, much fewer implants and impact to that area.

There's still Californians coming in down here, they just tend to be more conservative, relatively speaking.

We just want to be able to find a house, comparable to ours to move to on an acre or two. (Not 10 yards away from the neighbor's exterior wall.) It's time to have it all one level on the first floor. Would love to not have a pool anymore. 'Learned the phrase "Aging in place" from my Interior Design daughter, but don't Google it - there's nothing but old people on those websites! We built this house, but, from watching the two houses being built in our neighborhood, there's no way I could tolerate the pace things are currently proceeding at. One guy in a van shows up about every other day to piddle a little bit. The moisture barrier material blows off before they get around to the next step.

And we don't want a house with the @#$%^ Spanish tile roof! My grandfather's house had that. They were in love with Mexico. Apparently, everyone in my area is too. This ain't Mexico (yet) and your house is no "hacienda".

[/quote]

Yep. Austin, DFW, Houston are where all the implants come for the job markets and that's why it's insane in these metros now and future. South of Austin, San Antonio area is more military and tourism, much fewer implants and impact to that area.
[/quote]
You must not frequent this area very often. The implants are here.

yea

I concur with that. I'm from Buffalo Gap, removed 11 years. Totally insane what has happened from Wylie to Tuscola. Everytime we go down there I ask my wife "where the heck do all these people work that can buy these $350K + new houses and not be house poor?". Probably work from home out of stators.

My company is in the real estate market and the Board of Directors is bracing for a recession. If our workload slowing down is an indicator then it's at our doorstep.

I’ve been wondering when the bubble would burst too. My Granddaughter has backed out of the housing market in Dallas. I’m glad she quit looking. This whole market makes my spider sense tingle. Something’s not right.

The good news is that all the “smart people” are saying there’ll be a recession. One thing I learned years ago is that if everybody is thinking the same thing, they are usually wrong.

I doubt the that prices will soften much, if at all. Too many outside factors. I don’t thing the bubble will burst, but current prices will plateau.

No way to tell 100% but lots of outside factors and record low inventory point to the housing market staying steady in Texas. Historically Texas has bucked nationwide trends….again outside factors here they are not applicable to other areas.

Agreed.

Even in 2008, when my wife asked "what is this recession they are talking about? I don't see it."

I said, because you are living in one of the most prosperous and growing counties in the entire nation. (Collin county)

My daughter is a realtor in Georgetown, so I hope for her sake it doesnt bust. She is new at it and has no idea what could happen.

Will be hard for any type of collapse if demand stays high in TX. Maybe a leveling off some, but I agree with you guys.
In 07-08 there was one specific thing that caused the bubble to burst…..banks lending to under qualified buyers…..which they were forced to do by Clinton era admin. I don’t see that here. Interest rates will slow it down more than anything else IMO.

Too many of you seem to think this might be a good thing.

It is a good thing if you're a buyer.

Count me in the camp that thinks it’s going to crater soon. Last bubble Texas wasn’t bad because we never saw the appreciation. This time we are seeing it. My house has more than doubled in price the last 5 years. Higher rates, rapid inflation, rapidly increasing home prices, and stagnant wages are a recipe for the bubble popping.

In 2008 I took a cross country trip. Once I left Texas, up to Chicago over to Michigan and down thru Ohio, Kentucky and Tennessee, it was dead. Like dead dead.

As soon as I crossed into Texarkana construction started back up again. Texas has always been a unique place. In the 80’s hordes of people from Michigan and New England moved here for jobs.

Someone please explain to me what this bubble popping would look like?

But I bet it won't happen to hunting land acreage.

It’s coming but it will be national as usually

We have other i creasing prices to go with the homes this go round. A number 1 at whataburger was almost $11 the other day.

It’s like a smelly bubble in the bathtub.

Realtors would actually have to show real estate again

Actually it could, now farm land probably not as likely as Farm typically has better yearly revenue

Lots of secondary homes will flood the market, as will unnecessary land purchases. Being cash heavy right now will be a good thing in the next few years.

Like doc said, DFW and most of Texas is protected. The coasts will feel it fast and hard.

Good old Oklahoma timber/jungle isn't cheap anymore seen some at 3-5K per acer.

Houses that are listed at $500k will go for $485k instead of going for $550k. Lol.

It’s all gotten stupid I looked at some farm land the other day that was 4800, 10 years ago it was 1200 an acre

All these high end duck hunters paying top dollar for farm land to shoot ducks pushing up the cost!

So true!

Exactly.

That’s business as usual not a bubble though.

I'm from that area and believe me......the implants north of you are 100x what yall are seeing south of Austin. All the tech jobs are in ATX, DFW, Houston so all the tech people are flocking. I now live and work amongst Californians in a big way.

There wont be a bubble burst in TX but definitely a correction. There has to be. I have 2 co-workers that bought $1mm homes in the past year that were really more like $500-$600k homes (both from CA)

A lot of them are here. The real estate isn’t as expensive as Austin, yet.

there does not have to be...that number is the new market. Nothing is absolute but there does not have to be a correction.

Agreed. I think we will obviously see a slow down, and likely some stagnation, but prices aren't coming back down.

Hopefully it can stay this way for a few more weeks until I get my house sold. Already bought the new place at the inflated prices, but looking to make it more of a wash with the inflated value of my current home.

I keep an eye on the Texas and Florida market and have also noticed houses staying on the market longer and price reductions. The good thing is, Texas usually isn't hit as hard. Florida may get hammered again.

Who floods $2000 plus an acre corn to kill a bird!!!!!! We should whoop their arse!!! I got R, you got D!!

I’m out!

Texas is #1....

https://www.commercialsearch.com/news/where-are-most-corporate-relocations-taking-place/

This

Massively increasing property taxes will be triggering the sale of secondary homes where I live. A neighbor just jumped from $6,500./year in 2020 to $36,000. this year for property taxes. He is going to sell. This scenario is repeated all over the lake.

That makes me ill just thinking about it.

No doubt.

I’ve been eyeing rural Oklahoma for a purchase. If it wasn’t for the current residents I would have probably already moved, the Oklahoma property taxes are a lot more bearable but of course they have a state income tax.

In reality I think this is potentially bigger issue than pricing increases.

Agreed

Yep, I had one roll up my crack this morning

Applications for a mortgage to purchase a home fell 7% for the week and were 21% lower than the same week one year ago. Now at a 22 year low. Yep, that be 22.

Is that because it's petering out or because so many people are coming in from out of state and paying cash?

Figures cited are nation wide. In the scheme of things in Texas, purchases of homes without mortgages is way in the minority.

Or because no one is selling.what are inventory levels?

Yet houses are being built everywhere you look.

Who is buying these houses? Corporations. Why? Because home ownership will become a thing of the past and if you want to live there you will abide by the rules.

It's slowing down, but the stats for Texas are still very, very favorable.

https://www.wfaa.com/article/money/...287-ab70015f-7d6a-42d7-83d1-68032a7e7499

Inventory levels are still way below the averages.

https://www.recenter.tamu.edu/articles/technical-report/Texas-Housing-Insight

This is also very true...build to rent is also picking up. Rental rates have climbed back up as well.

I read real estate reports daily and several very large corps, investment groups, and PE are buying hundreds and even thousands of homes at a time.