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[–] 37 points 3 months ago (13 children)

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.

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  • [+] -33 points 3 months ago (11 children)
  • [–] 23 points 3 months ago* (last edited 3 months ago) (9 children)

    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!

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  • [+] -31 points 3 months ago (8 children)
  • [–] 17 points 3 months ago (6 children)

    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?

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  • [+] -14 points 3 months ago (5 children)
  • [–] 1 point 3 months ago

    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.

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