Average Rating: ( 0 votes)
Posted over yonder by the good folks at modernaustin (click on "some numbers" above). Having owned a home (and paid property taxes over the last almost 20 years), the pricing increases (and not) fit our property. Not mentioned is that going into 1990 the state was coming out of an oil bust and the savings and loan fiasco which suppressed home prices, so when the market took off, there was a bit of pent up demand. Also, Austin greatly increased in population over the past 20 years, swelling from ~472,000 in 1990 to ~657,000 in 2000 to ~790,000 in 2010. This caused prices to go up in the more desirable (= less of a commute) city core. The dotcom boom really drove prices up during the 1990s. For the most part, Austin “missed out” on the run up of prices during the 2000s, in part, I believe, because the market was still recovering from dotcom fallout.