[Porterville]

Austin?? The only thing good about Austin is UT, and the fact that it is closer to San Antonio then Dallas. Really, what do you expect after the software crash??

[Proud_texan]

UT? I'd have to say that's on the other side of the ledger. Doggone students who don't pay taxes and have brains of mush vote green and keep the Peoples Republic of Travis in power.

This is the beginning of Austin's 2nd real estate bust in my (limited) experience, moved here in '91 and paid 30% less than the house sold for in '83.

IMO the major reason housing prices have remained high are low interest rates. They go away and not nearly as many people will qualify, shrink the qualified buyers and the market will collapse, especially for higher end houses.

It'll be ugly, but no uglier than it's been in the past. Lots of people will have to go BK (hard to find anybody that was in Austin in the 80s that didn't go BK) and it'll be a good time for ants.

Then it'll get better again, nobody will see an end to the good times and ....well, the more things change...