6
Found a 2019 Reddit thread predicting the housing market crash in my city down to the month
Was cleaning out my saved posts last night and stumbled on a comment from r/realestate where some guy named u/landlordkiller69 said the bubble in Austin would pop by March 2023. He pointed to the absurd rent hikes on East 6th and said investors were dumping flipped houses like hot potatoes. Sure enough, I checked Zillow and prices dropped 12% that exact month after peaking in February. Anyone else dig up old threads that called a local market shift way ahead of time?
3 comments
Log in to join the discussion
Log In3 Comments
the_alex6d ago
Man that u/landlordkiller69 was way too specific about "dumping flipped houses like hot potatoes" - makes you wonder if he had inside info from a realtor buddy or something. Did you check if the guy ever posted again after that call, or did he just disappear like some sort of prophet? Always curious whether these people are just lucky guessers or actually crunching local data that most of us ignore.
8
charlies375d ago
My buddy tim actually had a cousin who worked at a title company back in 2021. The guy would see the same flipper buying three or four houses a month then dumping them sixty days later. Tim told me his cousin started shorting stock in the local homebuilders after that and made out pretty well when rates went up. People who work with the paper trail always know before the rest of us do.
6
charles_coleman4d ago
Damn, that's wild. Did Tim's cousin ever say if the flipper was dumping to individual buyers or other investors on the back end? Seems like the kind of detail that'd tell you if the whole market was about to crash or just one sloppy player.
2