- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
So many houses for rent in the Austin area
Posted on 7/23/23 at 8:22 pm
Posted on 7/23/23 at 8:22 pm
Driving around the Austin area, it's a 3 to 1 ratio of houses for rent versus houses for sale. These are single family homes in neighborhoods where the few homes for sale are $500k+. I've noticed this in the city and suburbs alike (Cedar Park, Leander, Round Rock). It's got to be frustrating to see for first time homebuyers.
12
Posted on 7/23/23 at 8:27 pm to yaboidarrell
They're not going to give up that cheap interest so they rent them. This will happen everywhere.
Posted on 7/23/23 at 8:29 pm to yaboidarrell
I know several people who buy houses and then rent them out. It does kind of suck for the people that actually want to buy a house for themselves. They have to compete with that.
Posted on 7/23/23 at 8:30 pm to yaboidarrell
People are renting them out instead of letting them sit on the market for 6 months. The home values & high interest rates have priced a lot of would-be home buyers out of the market, and people aren’t willing to eat a $100K+ drop in price just to sell if they don’t have to.
This post was edited on 7/23/23 at 8:30 pm
Posted on 7/23/23 at 8:42 pm to yaboidarrell
I rent two homes in Austin. Interested?
Can’t afford it, go live somewhere else. You’re not entitled to live wherever you want for a cheap price.
Can’t afford it, go live somewhere else. You’re not entitled to live wherever you want for a cheap price.
This post was edited on 7/23/23 at 8:52 pm
Posted on 7/23/23 at 8:43 pm to yaboidarrell
Hard for people to come to terms with the interest rates and insurance which equals to insane payments compared to a few years ago. I have one for sale now and it's challenging for lower income buyers financially and mentally.
Probably not as bad for first time buyers as it is for people who have bought 5 years before and need to move for whatever reason.
Probably not as bad for first time buyers as it is for people who have bought 5 years before and need to move for whatever reason.
This post was edited on 7/23/23 at 8:46 pm
Posted on 7/23/23 at 8:47 pm to yaboidarrell
I have a family member that’s planning on being a slumlord with their extra money. They even asked me to live in a bad part of town so I could keep an eye on their properties they’re planning on buying. I suggested nicer properties and they said no way.
This post was edited on 7/23/23 at 9:56 pm
Posted on 7/23/23 at 8:54 pm to Flashback
quote:
They're not going to give up that cheap interest so they rent them. This will happen everywhere.
In a town like Austin, those houses are more than likely owned by a hedge fund. They are snapping them up left and right. I had a hedge fund call me last week about taking on a maintenance contract on some of their houses here in Lake Charles. We already do work for one that owns 42 houses here and counting.
I hate to support it but if I don't take the work someone else will. Hedge funds are not going to stop buying SFHs anytime soon.
This post was edited on 7/23/23 at 8:57 pm
Posted on 7/23/23 at 8:55 pm to athenslife101
quote:
I have a family member that’s planning on being a slumlord with their extra money
I have a few rentals in the ghetto. It's quite an adventure to say the least.
Posted on 7/23/23 at 9:33 pm to BabyTac
That's a very good point. People want to live in well manicured cities with amazing schools and amazing shopping with zero crime BUT they complain that it is too expensive to live in those types of towns.
Posted on 7/23/23 at 9:49 pm to BabyTac
quote:
BabyTac
With every post, you become worse and worse.
Posted on 7/23/23 at 11:05 pm to yaboidarrell
Why does it suck? I’ve heard people complain there’s not enough rentals? Why are we to judge that? Again let the market work it out.
If people don’t rent them, they won’t be good investments and hit the market. If people can’t afford them, the price will drop on the market. Rinse and repeat. It only sucks if you can’t afford the prices, but that’s not societies issue that’s your own.
If people don’t rent them, they won’t be good investments and hit the market. If people can’t afford them, the price will drop on the market. Rinse and repeat. It only sucks if you can’t afford the prices, but that’s not societies issue that’s your own.
Posted on 7/23/23 at 11:10 pm to yaboidarrell
It's all fun and games until people start throwing molotov cocktails in the windows with For Rent signs.
Posted on 7/23/23 at 11:20 pm to stout
quote:
In a town like Austin, those houses are more than likely owned by a hedge fund. They are snapping them up left and right. I had a hedge fund call me last week about taking on a maintenance contract on some of their houses here in Lake Charles. We already do work for one that owns 42 houses here and counting.
I hate to support it but if I don't take the work someone else will. Hedge funds are not going to stop buying SFHs anytime soon.
Exactly. They're having to offset their piss poor commercial real estate investments that are tanking while still keeping their real estate backed pension funds above water.
Hedge Funds will be the ruination of this country between the cancer they have brought into the housing market and politics.
ETA: Not to mention the negative influence they are causing by putting pressure on major corps and universities to succumb to woke leftist DEI demands.
This post was edited on 7/23/23 at 11:22 pm
Posted on 7/23/23 at 11:24 pm to Cycledude
quote:wtf are you talking about? A competitive market, how horrifying?!
people who buy houses and then rent them out. It does kind of suck for the people that actually want to buy a house for themselves. They have to compete with that.
Posted on 7/24/23 at 12:32 am to BabyTac
quote:
rent two homes in Austin. Interested? Can’t afford it, go live somewhere else. You’re not entitled to live wherever you want for a cheap price.
Jesus H. Cringe
quote:
You’re not entitled to live wherever you want for a cheap price.
That’s definitely NOT what was in his op.
This post was edited on 7/24/23 at 12:34 am
Posted on 7/24/23 at 12:40 am to SuperSaint
quote:
wtf are you talking about? A competitive market, how horrifying?!
You must be thick. You must realize that investors buying all the inventory possible to hold for rent means there are fewer houses for sale so much higher prices.
You can discuss merit or morality, but this is probably the first time in history there are this many groups rather than just prospective homeowners all competing to own the same houses, and typically the non-residents have much more means at their disposal to purchase.
Posted on 7/24/23 at 12:57 am to FLTech
quote:
That's a very good point. People want to live in well manicured cities with amazing schools and amazing shopping with zero crime BUT they complain that it is too expensive to live in those types of towns.
I believe the point of the post is that investors and large companies making money off rentals are driving the price up dramatically relative to where they were years ago. I could be wrong, but I don't think the single family home entrepreneur was as prevalent, and there certainly weren't massive hedge funds owning hundreds of homes in a city.
If it were truly a situation where one family owned one house each, then a lot more homes would be available for sale and the price would be lower. But since a lot of people figured out buying and renting out homes was a steady path to wealth, the cities are rife with them and it's causing a real ownership affordability crisis.
Posted on 7/24/23 at 1:01 am to grizzlylongcut
BabyTac went wild with them brunch mimosas and bloody marys today
I hope he’s okay
I hope he’s okay
Posted on 7/24/23 at 5:59 am to yaboidarrell
Have you done the math yet? How does the rental payment compare to a current mortgage plus massive property taxes?
Page 1 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News