Austin: Swanky saturation reached downtown?

Saddle Man · #1 Posted **Jun 26, 2009, 7:23 PM**

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TexasPlaya · #2 Posted **Jun 27, 2009, 1:24 AM**

That's the price to pay for having a residential high rise boom. Hopefully Austin will keep its charm, uniqueness, and weirdness that make it special and not lose it. Dallas and Atlanta come into mind when I think of Austin's situation; these cities have some great looking, new high rises but only people with deep pockets can afford most of them.

JAM · #3 Posted **Jun 28, 2009, 1:16 AM**

Quote:

Originally Posted by TexasPlaya

these cities have some great looking, new high rises but only people with deep pockets can afford most of them.

Or who are willing to downsize on living space requirements.....

TexasPlaya · #4 Posted **Jun 29, 2009, 1:39 AM**

Quote:

Originally Posted by JAM

Or who are willing to downsize on living space requirements.....

Just because you are downsizing on living space requirements doesn't mean it's going to be less expensive, especially considering areas like Victory Park in Dallas and Midtown and Buckhead in Atlanta where most of these beautiful high rises were built are in areas with high end retail and shops.

bigdogc · #5 Posted **Jun 29, 2009, 2:37 AM**

give me a break on deep pockets. anyone with a degree from college can find a job that pays 60k/year within the first three years out of school. thats 5k a month... more than plenty to live DT!

bluedogok · #6 Posted **Jun 29, 2009, 2:42 AM**

Quote:

Originally Posted by JAM

Or who are willing to downsize on living space requirements.....

or willing to live within their means (our house payment is around $700 a month, 1,300 sf living area with a 2-car garage).....and reduce hobbies to those that do not require any type of garage (the neighbors wouldn't like a table saw in the condo or working on a race car in the parking garage). Not everyone is suited for congregate living arrangements, I don't even like HOA's.

I would like it if I could afford my own little building where my wife could have a bakery at ground level, an office above that for me and living above that with a garage and workshop in the building somewhere in the building...then that wouldn't be downsizing but the commutes would be nice. It would either be that or some land out away from town for us.

Quote:

Originally Posted by bigdogc

give me a break on deep pockets. anyone with a degree from college can find a job that pays 60k/year within the first three years out of school. thats 5k a month... more than plenty to live DT!

Now that's funny right there

paulsjv · #7 Posted **Jun 29, 2009, 2:11 PM**

Quote:

Originally Posted by bigdogc

give me a break on deep pockets. anyone with a degree from college can find a job that pays 60k/year within the first three years out of school. thats 5k a month... more than plenty to live DT!

Good luck living on 60k and paying 3k a month for a place to live. lol

MichaelB · #8 Posted **Jun 29, 2009, 3:52 PM**

Dear Sweet Shonda.... she sometimes trys to make stories where there arn't any. Did you notice the occupancy rates for the downtown buildings? Almost all were well over 90%.

Scottolini · #9 Posted **Jun 29, 2009, 8:55 PM**

Quote:

Originally Posted by paulsjv

Good luck living on 60k and paying 3k a month for a place to live. lol

DINKs. Dual income, no kids. There are a lot of these around, and paying three or four thousand a month for your rent/mortgage when your household is bringing in over 100K/year sans children is very doable.

paulsjv · #10 Posted **Jun 30, 2009, 3:05 PM**

Quote:

Originally Posted by Scottolini

DINKs. Dual income, no kids. There are a lot of these around, and paying three or four thousand a month for your rent/mortgage when your household is bringing in over 100K/year sans children is very doable.

Yes that is very doable, but if you are only 60k a year dink or not I don't think it is really possible.

breathesgelatin · #11 Posted **Aug 2, 2009, 6:09 AM**

Quote:

Originally Posted by bigdogc

give me a break on deep pockets. anyone with a degree from college can find a job that pays 60k/year within the first three years out of school. thats 5k a month... more than plenty to live DT!

News to me.

Myomi · #12 Posted **Aug 2, 2009, 3:39 PM**

Yea, clearly everyone with a college degree automatically make 60k, no problem. That's the starting salary of teachers and social workers right?

hookem · #13 Posted **Aug 2, 2009, 7:55 PM**

Interesting article about an example potential future resident of the Austonian. Wonder if there are 180 more long-time Austinites looking to give up their hill country dream homes for living downtown. I'll bet there certainly are some...

http://www.statesman.com/business/co...02hotprop.html

JAM · #14 Posted **Aug 3, 2009, 12:51 AM**

Quote:

Originally Posted by hookem

Interesting article about an example potential future resident of the Austonian. Wonder if there are 180 more long-time Austinites looking to give up their hill country dream homes for living downtown. I'll bet there certainly are some...

I always found it kind of interesting how the Statesman disguises real estate advertisements such as the mentioned url link. It's actually a pretty good idea. It always made me wonder how many people see this as news, and how many see it as simply an advertisement.

priller · #15 Posted **Aug 3, 2009, 10:11 PM**

Quote:

Originally Posted by hookem

Interesting article about an example potential future resident of the Austonian. Wonder if there are 180 more long-time Austinites looking to give up their hill country dream homes for living downtown. I'll bet there certainly are some...

I know of at least one more. At client at my wife's law firm is selling their big home in town to move to the Austonian. They are long time Austin residents.

bigdogc · #16 Posted **Aug 3, 2009, 10:16 PM**

Quote:

Originally Posted by paulsjv

Good luck living on 60k and paying 3k a month for a place to live. lol

i think you can find places in well below 3k. 1500/month at places like Legacy, 1000 at low rises (red river flats).. its very doable on 60k/year.

JAM · #17 Posted **Aug 4, 2009, 12:16 AM**

Quote:

Originally Posted by bigdogc

i think you can find places in well below 3k. 1500/month at places like Legacy, 1000 at low rises (red river flats).. its very doable on 60k/year.

This is true, a friend of mine has been price shopping.

hookem · #18 Posted **Aug 4, 2009, 5:02 PM**

Monarch's advertised prices are as low as $1314 for a 1-BR on a lower level. Assuming there are some incentives available, I'll bet the net/negotiated price is closer to $1200.

Scottolini · #19 Posted **Aug 4, 2009, 6:33 PM**

That price is very doable for almost any DINK couple. Sure they could get more space for the money away from downtown, but it's there if they want.

austin242 · #20 Posted **Aug 7, 2009, 6:15 AM**

Austin downtown is still cheaper than almost anywhere in NYC so I don't see a problem.