San Antonio's apartment market isn't doing great. Austin's is slightly worse. “The apartment market is oversupplied”

[Richard Glidewell]

This is exactly what you want happening though.......article talking bout this like it's a bad thing........dummies realized you can pay the same amount while owning and not having to put up with bullshyt........and the people the complexes were turning they nose up at can spit in the rental office managers faces and go take a lower rate.......I have been witness to way too many shytty ass office managers........a win win for the people

 

[Spence]

the point is people want housing to be expensive...
so they can potentially profit

personally I dont see the house you live in as an investment...
I would bet when you factor in expenses and time spent most people arent making (much) money

Not many houses you move in to make “immediate” money. It’s when you sell or cash out refi for when your house finally takes in $$$$. Pay on a house for 10 years (as an example), you’re making every single dime back plus interest and most times a little equity to set you up for the next house you want. Pay 30 years and you can either live there basically “rent free” or totally cash out and downsize while saving the hundreds of thousands you made while actually “using” the thing you lived in.
Only asset you can thoroughly use and it actually gains value, I agree it’s a weird ass concept but it’s still an asset that you cash at the end of the day.

 

[Mike Nasty]

the point is people want housing to be expensive...
so they can potentially profit

Not really, on the Nextdoor App everyone is complaining about their valuation and their increase in property taxes.

 

[Gloxina]

Please explain how real estate isn’t an investment that pays off long term?

Maaaaaaaan home ownership is always the goal.
Especially looking at the rental market right now. Anyone who says it isn’t an investment is lying

 

[Gloxina]

Not really, on the Nextdoor App everyone is complaining about their valuation and their increase in property taxes.

Uh huh!

 

[V Skyye]

I’ve always wondered why so many ‘luxury’ apartments were being built. Many younger professionals are still living with their parents. Also, there aren’t enough high paying jobs in many areas to match the number of luxury apartments. And most of those places aren’t built for people to live there long term.

 

[jilla82]

Not really, on the Nextdoor App everyone is complaining about their valuation and their increase in property taxes.

thats the government fukking people...
bet when they're waiting to sell they dont care about those valuations

 

[Spence]

I’ve always wondered why so many ‘luxury’ apartments were being built. Many younger professionals are still living with their parents. Also, there aren’t enough high paying jobs in many areas to match the number of luxury apartments. And most of those places aren’t built for people to live there long term.

I never thought about it that way, but all these “luxury apartments” being built to then be converted to public housing makes a fk ton of sense.

 

[O.Red]

The same is happening in Houston

There are new(built in the last 1-5 years) half empty apartment buildings all over now

 

[-DMP-]

I’ve always wondered why so many ‘luxury’ apartments were being built. Many younger professionals are still living with their parents. Also, there aren’t enough high paying jobs in many areas to match the number of luxury apartments. And most of those places aren’t built for people to live there long term.

It’s kinda easy to make something to appear luxurious. A lot of the same upgrades they recommend you do before selling your house you can do to an apartment to increase its value while not breaking the bank. Especially if you’re doing it in bulk.

Vinyl flooring that looks like hardwood
Laminate countertops that look like marble or quartz
Peel and stick backsplashes
New faucets on sinks
Brushed Nickle or dark handles and ceiling fans instead of the classic “gold” or brass
Black appliances
Split floor plan with open concept.
Contemporary paint for walls and cabinets.




Add a gate, couple swimming pools with a gazebo, grill, and a doggy park. Mid fitness center.

 

[V Skyye]

I never thought about it that way, but all these “luxury apartments” being built to then be converted to public housing makes a fk ton of sense.

That’s exactly how public housing originated in many places. Once whites get older and tired of crime, noise, and failing schools, they’ll be back to creating planned communities elsewhere and abandoning cities.