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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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Tell that to people who bought from 2011-2019. I’m on home number 5 and my wealth is tied to buying my first place in 2011
Congrats on missing the point. Houses SHOULD NOT be investments. They are working that way right now, which incentivizes the kind of behavior we are seeing. Yeah, I'm also living great because I bought in 2012, but that was not why I bought a house then (I just wanted to have my own space where I could play guitar without annoying my neighbors) and should not be why anyone either buys or sells a house. Tying wealth to the roof over your head is bad. Tying retirement to the roof over your head is worse. It used to be that parents would pass down their house to their children when they retired. Now the parents sell their house to pay for their retirement, and kids get stuck with paying for a stratospherically priced house.
I'm not saying you did anything morally or ethically wrong by buying a house then selling it for a profit to move into a new house, but the reason you made so much money was because normal people who just want a place to call their own had to compete with flippers, multinational investment firms, private equity, hedge funds, rich foreign nationals trying to move money out of their country, etc. Those entities are turning a roof over a person's head into profit... instead of a roof over a person's head.