Posted on 11/02/2014 8:45:23 AM PST by bgill
A study from the Texas Association of Realtors shows international buyers pumped more than $11 billion dollars into the Texas economy between March of 2013 and 2014. One Austin Realtor says people from outside of the U.S. are looking for a secure investment.
“An international client can come into the Austin market, get a great value for what they’re buying and almost be insured that there’s profitability in that and that’s unique to the world as a whole,” said J Kuper, owner of Kuper Sotheby’s International Realty.
(Excerpt) Read more at kxan.com ...
Dem ground game.
Once they get their wish for more and more people to flood in, they’re going to wonder why in hell they ever wished for that....
Bet the rent.
Note the use of the codeword “international” instead of “foreign”.
The Austin housing market is crazy. The thing driving it has more to do with nerds selling their 1500 sq. ft. house in California for $1.5 million then thinking they got a good deal on a 2200 sq.ft. house near downtown Austin for the same price. Tech companies are flocking from CA. To Austin.
Most of the big outside money is going in to pools of money to build multi-family housing. Much to build high rise properties. There is so much of that kind of property being built in Austin that people joke that the city bird of Austin is the crane. To my eye this kind of development is being overbuilt.
They will fund it knowing at least they have an investment or even a place to stay if things get too crazy in their country.
We are seeing Austin change from the city of Dellionaires to “CA and Asia in the Midwest”.
CA is seeing home prices exploded over the past few years due to Chinese money desperately seeking security.
The wackadoodle libs are all about keeping Austin weird and keep begging for more.
Those Californians with their high real estate values are taxing us out of our homes.
Are they buying the homes to live in, to rent out to locals, or to flip at inflated prices?
What about the lack of road building Austin is famous for in the past 20 years?
They are buying in order to get their money into dollar denominated assets. The dollar is soaring right now and for the next couple of years.
Deport all the illegals and Austin wouldn’t have a traffic problem.
They might be Dem supporters but I doubt it’s a strategy.
These folks are just finding value in a desirable market.
Rational consumers in my view.
They’d be crazy to rent out to the freaky locals for sure
If crazy locals can pony up $2,500-3,000 a month for rent, well as they say a fool and his money are soon parted...
bump
If they sucked $12 billion out of it, then it’s a net loss.
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