austin economic forecast 2017 presentation @ westin domain w/capstone capital call/text 512.423.5626
TRANSCRIPT
Kenn Renner,Real Estate Broker/Investor AuthorBy Kenn Renner
www.BuyAustin.com| Kenn Renner | 512-423-5626 | [email protected]
Forbes List - America's Fastest Growing City 1. Austin, Texas MSA: Austin-Round Rock, TX 2015 Population growth rate: 3.15% 2016 pop. growth rate: 2.56% Job growth rate: 3.28% Unemployment: 3.34% Median pay: $66,000
www.BuyAustin.com| Kenn Renner | 512-423-5626 | [email protected]
Forbes Best Places to Invest 7. Austin, Texas MSA: Austin-Round Rock, TX Pop.: 1,943,299 Avg. Home Price (Q3 ’14-Q3 ’15): $284,355 Pop. Growth (’11-’14): 9.0% Jobs growth (annual): 3.3% Unemployment (Sept. ’15): 3.3% Annual price growth: 12% Over (+) or under (-) priced by: 13% Three-year home price growth forecast: 27% Average Home Price: $281,355
www.BuyAustin.com| Kenn Renner | 512-423-5626 | [email protected]
Lunch with and Economist
• Austin is the fourth best economy in the US
• 32,000 to 33,000 new jobs created• Austin has #2 job growth• Very stable economy - steady growth• Seller's market, not a stupid market
Lunch with an economist
• Price homes 95% to 100% of median, otherwise will sit
• If a home is on market more than 45 days, it is overpriced
• Texas property is the most undervalued hard asset in the world
• We are not in a bubble• We are where California was in the
1950s
Lunch with an economist
Appreciation 3-5% Under $250k - 25-35% over the next 3 years. Luxury market - buyer's market Five major US corporations looking at Austin
for a headquarters 10,000 companies have moved from California
to Austin in the past 7 years Our biggest asset intellectual capital 49% bachelor's degree
Austin Summary – ABOR stats
29000 + home sales in 2016 Up 6.1% over 2015 making for a record year Median price up 7.2% - $290,000 2.4 months of supply – sellers market! 5856 Active listings - skewed by builder
inventory 4486 active “Resale” listings Shortage will continue for the “NEAR”
forseeable futurewww.BuyAustin.com| Kenn Renner | 512-423-5626 | [email protected]
Apartment Rents
2016 - $1189 2017 - $1239 2018 - $1271 2019 - $1315 2020 - $1376 Projected increase – 14%
Source: Axiometrics
Counter Cycles to the Coasts
Is Austin “Overvalued”
Salary needed to buy a median priced home – $62K
Nationwide $ 57K NYC – $ 90K San Francisco - $ 157K We are between Miami and Portland in
affordability
Where are we at in the cycle
RecoveryExpansionExuberanceContractionRecession
Dad, How Do I Get Wealthy…
Make more revenue by bringing more value to the marketplace.
Reduce expenses – especially our insatiable UNCLE
Invest the difference – preferably in something you understand.
Hot Trends and Investment VehiclesPrivate MoneyNon-Bank FinancingStrategic PartnershipsSelf-Directed IRAsCause Based Alliances – ADRN,
FCMHabitat for Humanity, H.O.P.E.
www.BuyAustin.com| Kenn Renner | 512-423-5626 | [email protected]
Simple Wealth Building StrategyAcquire 10 homes in 10 yearsPay them off in 20 years
www.BuyAustin.com| Kenn Renner | 512-423-5626 | [email protected]
Disclosure and Disclaimer: Kenn Renner, Renner Realty, Inc are not attorneys, CPAs nor Financial Planners. Please seek the appropriate professionals for legal, tax and financial advise and guidance.
Join me most every Saturday for Real Estate investment presentations at convenient locations around Austin… 512.423.5626 call/textBenefitting H.O.P.E. By Kenn Renner