As Austinites are in the middle of appealing-your-property-tax season, the folks over at Forbes.com would like to let you know about property investment across Texas.
How did Austin do? As you might imagine, the answer is complicated.
In a Forbes.com opinion piece entitled “Looking to Buy a Home in Texas? These Cities Are the Best Investments,” Ingo Winzer( president of the North Carolina-based Local Market Monitor, Inc., a residential real estate forecast company) notes that “Texas might as well be called the United States of Texas because of the broad range of real estate markets throughout the state.”
Winzer calls Austin “the most difficult among the large Texas markets right now” as our fare city is “a victim of its own success.”
“With home prices high,” he writes, “you'll do best to subdivide a large home into rental units. The rental market is sure to increase.”
Winzer calls Houston “the most difficult market to understand right now” because “we don't yet know the long-term effects of the flood (from Hurricane Harvey.)
How about Dallas? “The biggest consideration if you consider an investment in the Dallas area is that home prices--which were largely unaffected by the 2008 crash--have recently been climbing 10% a year...with home prices already high (for Texas), renting will become even more popular.”
San Antonio, on the other hand? “One of the best bets in Texas,” Winzer writes.
Then again, the state is reflective of the country in general. Winzer writes, “Texas is a microcosm of what's happening in the rest of the U.S.--more of the growth, population and real estate opportunity getting concentrated in fewer, larger markets.”