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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (77411)	5/12/2007 5:45:00 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 306849

i think a condo bubble is developing in Austin. right now the entire "downtown" residential population is less than 6000, but there are plans to bring 10,000 new downtown condo units to market over the next several years. of course most of these are "luxury condos" costing at least 500K, and have expensive condo fees. i question whether the market can really support so many new luxury condos. they are of course also building like mad in the exurbs, so traffic is terrible once you get out of town. away from downtown, there are also numerous massive "mixed use" developments under construction, such as the recently opened Domain, a nouveau riche psuedo-village of overpriced clothiers occupying 176 acres and slated to have 8 million sq ft of space when completed. it will also, of course, have luxury condos on top of a "boutique" hotel. this is just one of several massive projects under development.