Austin: Homes for Sale vs AirBnB Listings

Brads comment in the thread below about AirBNB made me wonder . In Austin , There are currently 3,329 homes for sale and 12, 127 AirBNB listings. Let's say the current slump in short term rentals forces cash strapped owners to sell their properties. If even 30% of AirBNB s were listed for sale, that would double inventory. Eye opening.

This slump is developing all over the nation. A recession could hit AirBNB owners hard. Huge property tax increases in Texas this year too. Boom.

Let's go on vacay where it's 108 degrees and no beach. Austin, yay!

Los Angeles, 44000 plus Airbnb listings.

7 comments

7 Comments

Scottsdalepd

Aug 25, 2023

But in TX one can still get homeowners insurance.

Point is, Too many variables to be certain of anything.

Brad Stevens

Aug 25, 2023

Fed Chair Powell calls inflation 'too high' and warns that 'we are prepared to raise rates further'

BigBallss

Aug 25, 2023

Replying to

If 2% inflation is the goal as Powell says, we have more rate hikes in the future.

"He noted the risk of strong economic growth in the face of widespread recession expectations."

When the Fed sees strong economic growth as a risk, it's a hint we are very fucked. Unemployment claims came in the 230,000 range, still not in recession territory.

The biggest inflationary problem remains housing. It's just too high. Housing is going to get crushed as soon as unemployment starts rising. The Fed is hell bent n destroying the biggest economic engine, Housing. With mortgage rates around 8% all we need is some unemployment to light the match. Biden will respond by putting pressure on loan servicers to work with struggling homeowners and will throw money at the problem but it won't help.

Brad Stevens

Aug 25, 2023

Replying to

Agree with all points. I think the fed is looking very closely at housing. The fact the HM hasn't pulled back (enough) is a major concern for them.

Brad Stevens

Aug 19, 2023

Austin might end up being the hardest hit if we do in fact see a recession. I'm hearing the Austin housing market has dropped at least 10% so far, (close to 20% in some areas). With the higher rate of property tax, Texas isn't built to handle California like price hikes. The Dallas HM skyrocketed as well. Lots of money in Texas, but the average household income is around 30% lower in comparison.

BigBallss

Aug 19, 2023

Replying to

Exactly.lower wages as well.

In California with the population density, Airbnb's can be turned into a rental property. With rent control being the wildcard along with a tenant population getting accustomed to not paying their freaking rent with no consequences.

trojangroucho

Aug 25, 2023

Replying to

The rent control problem invovlves politics. When you get a huge proprtion fo renters they can vote into place rent control. So majority tyrrany prevails.