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They bought homes at the peak of Austin's housing boom. Now they're taking devastating losses.
(www.businessinsider.com)
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this post was submitted on 06 Aug 2026
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Former Austin resident here (1999-2022). The last house I owned there I bought in 2016 for $225k. In 2021 I was getting unsolicited offers for $750k (Zillow estimate in January 2020 was $450k). Finally sold it two weeks ago (didn't know if I'd need to move back for work) for $515k.
A: Double the price in a decade is insane. Triple had I sold in 2021 is beyond words.
B: Someone in 2021 paid $300k over the market value a year prior and is now severely upsidedown on their mortgage.
Austin was great, but that was obviously a bubble to anyone with any common sense.
My neighbor did that on his home paid 150k for house valued at 139k. He plans on selling this year be interested to see what he ask for it. But it is bad time to be a seller right now.
I moved out of Texas you dummy. Why would I keep a house somewhere I don't live in. I guess I could have kept it and become a scumbag landlord instead of making it available to homebuyers. Eternal wealth through hoarding!
How could you possibly know that? Are you living in their walls? Did you stalk the buyer to make sure they weren't a black rock employee?
Everyone here really appreciates your financial advice... not.
There is a moron here for sure…
And? Make more, average home where I live is 700k. Stop shitting on everyone be better
I’m not the one being downvoted by the entire chat
What in the ever living fuck are you talking about? He sold a house he could not live in. He literally has two choices: let it sit empty (wasteful) or rent it out (be a landlord, blocking someone who wants to buy a home for their use). You have no fucking clue who he sold that to. It could have been anyone from a normal person to a flipper to private equity.
gaining wealth is the intedned way to use capitalism, working for a living is just a hack