For those of you that rent / InCalls included.... Better start some planning.

[Whispers]

Because Austin is headed towards being an incredibly expensive place to live.

Recent National and Local News have Austin becoming one of the most EXPENSIVE cities to rent in (per capita) before the end of 2013! Estimated cost of a 1 Bedroom Apartment before the end of next year is $1000 a month!


Naturally Ladies.... You need to lower rates and increase volume to prepare!

Williamson County is the fastest grwing county in the nation and Austin is #3 in Cities?

45,000 people expected to move here because of the rosy future being painted in national news?

Where the fuck are they going to live? There hasn't been a multifamily complex built since 2008 and local apartment communities are posting 97% plus occupancy rates.


Hotel Prices will probably start a steep rise as all the transplants arrive here for Apple, Google and Samsung Jobs.

Oh. Wait! Did you expect those jobs to be going to the Austin unemployed that have the education to fill them?

Nope! Seems that Apple is shutting down jobs inn other areas and offering transfers to the people that filled them their. They are coming here making wages based on other area's cost of living so will be able to afford to pay more and surely the local rental community will take advantage of that.

Traffic? Ladies are going see a rise in no shows based simply on snarled traffic! As well as gain it as an excuse for their own no shows!

As a Local businessman I am excited by the growth and the potential to capitalize on it financially.

But I damn sure will hate driving here (already do actually) and am not looking forward to what it will do to the already burdened infrastructure of the city.

[sixxbach]

I am so glad I have a nice piece of the pie. It's all a matter of timing as when to cash out. I just don't see how these new people who are driving up prices are going to make a profit on their homes or condos. My neighbors are paying 300k or so for their house. Everything will be profit for me. I may go ahead and look to rent out my place too in the coming year and take advantage

Sixx

[Vyt]

Bwah. Austin is nowhere near being an expensive place to live. Let me know when apartment prices get close to Northern VA/DC levels, much less SF or NYC. (Hint: a $1000 apartment is considered cheap in NoVA NOW)

[nuglet]

it is a landlords paradise and will be for a while. 2 bedroom 1 bath (1958 house) in a good area is about %1200- $1500. If it was nicer/newer $1700-$2000 is more in line..
But, to be fair, for the previous 3-5 years the roles were reversed.. no longer.

[rockerrick]

I'm from Los Angeles area studio shitholes go for 2000, and I moved here 8 yrs ago so probably insane now!

[homer13]

Originally Posted by rockerrick

I'm from Los Angeles area studio shitholes go for 2000, and I moved here 8 yrs ago so probably insane now!

ditto, I'm from Monterey CA, shacks with no rooms go for at least 1k. Texas is cheap.

[Whispers]

Originally Posted by Vyt

Bwah. Austin is nowhere near being an expensive place to live. Let me know when apartment prices get close to Northern VA/DC levels, much less SF or NYC. (Hint: a $1000 apartment is considered cheap in NoVA NOW)

Originally Posted by rockerrick

I'm from Los Angeles area studio shitholes go for 2000, and I moved here 8 yrs ago so probably insane now!

Originally Posted by homer13

ditto, I'm from Monterey CA, shacks with no rooms go for at least 1k. Texas is cheap.

i do not think the hoorah is as much about how expensive they are it is how expensive they are in comparison to the number of people here and the average wages they are earning. adjusting for population and earnings they forecast Austin right behind San Francisco?

A Child Care Worker in Los Angeles makes $40k a year. Here in Austin they make less than $20K. Expensive is relative to income right?

Where will all the hippie's and musicians and service industry people live when the couple making $90K a year in support positions at Apple, used to paying $2000 a month for rent arrive here and gobble up overpriced $1500-$1800 properties?

Originally Posted by nuglet

it is a landlords paradise and will be for a while. 2 bedroom 1 bath (1958 house) in a good area is about %1200- $1500. If it was nicer/newer $1700-$2000 is more in line..
But, to be fair, for the previous 3-5 years the roles were reversed.. no longer.

I seldom agree with Nuglet but he is toally correct. There is about to be a rapid reversal in the community and it will get a little wild for a while.

I know of a California couple that just plopped down $4000 in deposits to rent a 1500sqrft 3BR house in Manor for $1200 a month. I've heard some stories of Apt communities tightening standards in rentals planning on getting rid of slow pays to turn over unit's faster to rent them again at higher rates.

The community I help a friend rent just increased deposits from $150-$300 for her 3BR to $950! to renew!!!!! They are testing the waters to see if they can pull off what homeowners have always managed. Deposit and fees equal to 1.5 times a month's rent.

[rockerrick]

Originally Posted by Whispers

i do not think the hoorah is as much about how expensive they are it is how expensive they are in comparison to the number of people here and the average wages they are earning. adjusting for population and earnings they forecast Austin right behind San Francisco?
.

Now that says a lot San Francisco , New York , and Seattle are about the most expensive places to live.

[chairspud]

Friend with 5 rentals never vacant for more than clean-up between renters, average increase over last year of about 15-20%. My RE agent said I was very lucky in getting the house I did in Jan said now would prob be 15-20K more.
There are about 80-90 familys moving to the area every week!

[xxnubyxx]

don't worry, there'll be another recession in a few years to drive prices down, rinse-repeat... of course, inflation overall will take prices up.

[Joan]

Anything is "Attainable" ;-)

May not be "realistic" however ...


xoxo

[Joan]

You can find "Luxury" Apartments in N....NW ATX...with a garage for 800.00. Most would be 1,000. for the same ;-)

[Joan]

The reason for "Our" Rise of cost of living is because of pompus pricks coming from L.A, Dallas...to name a few and thinking that 2,000 for a shit-hole is acceptable. In Austin, 500.00 was an average.

I suggest the "migrants" to migrate to the the domain or Soco area ;-) ....Leave the rest for the Locals!

[NipLover]

I got it made, as a renter anyway. $900.00 a month for a 2-2-1 house, plus utilities. A little over 1k sq ft. Haven't been under a lease for 3 years. Landlord is telling ME I am not going anywhere.

[rockerrick]

Originally Posted by Joan

The reason for "Our" Rise of cost of living is because of pompus pricks coming from L.A, Dallas...to name a few and thinking that 2,000 for a shit-hole is acceptable. In Austin, 500.00 was an average.

I suggest the "migrants" to migrate to the the domain or Soco area ;-) ....Leave the rest for the Locals!

If that comment was aimed at my 2000 in LA reply know first renting is for suckers , like leasing a car is. That's why I don't live in Austin , because I'm not a sucker. So enjoy your over populated city local.