A surgeon bid 20% over asking price to move from Phoenix to Austin, realized he didn’t like living there and moved back. Business Insider somehow blames all of this on new houses being built. Lol.
Oh, yeah must’ve misread the 20k as 20%. Point still stands, buying a house at its peak price then immediately selling it will yield a loss. It’s like buying a new car and then complaining that you had to sell it for used car price.
It literally sounds like he’d never seen Texas before. Especially around the big cities it’s a car centric hellscape unless you’re in some very specific neighborhoods.
He came from Phoenix, I don’t see how it was any different from where he came from. Also, he’s a surgeon, he was probably in a decently walkable area and decent by Texas standards is a 5 minute drive to an upscale strip mall.
A surgeon bid 20% over asking price to move from Phoenix to Austin, realized he didn’t like living there and moved back. Business Insider somehow blames all of this on new houses being built. Lol.
He bid 20k over, which is 3% of the asking price of 595k. I agree with the other points, but 20% sounded way off
Oh, yeah must’ve misread the 20k as 20%. Point still stands, buying a house at its peak price then immediately selling it will yield a loss. It’s like buying a new car and then complaining that you had to sell it for used car price.
It is because of higher housing supply, even rents went down. This is exactly how markets work
and not because the surgeon made a assumption that the house was gonna go up in value eventually, but it went the exact opposite.
It literally sounds like he’d never seen Texas before. Especially around the big cities it’s a car centric hellscape unless you’re in some very specific neighborhoods.
He came from Phoenix, I don’t see how it was any different from where he came from. Also, he’s a surgeon, he was probably in a decently walkable area and decent by Texas standards is a 5 minute drive to an upscale strip mall.