Select a Real Estate News Article or Attend an Event

Select a Real Estate News Article or Attend an Event

Please locate a real estate related current event, news article, or other related material. Additionally, you may also attend an open house, a broker’s open, or meet a real estate professional at a social event. For this assignment, please provide a brief paragraph detailing what the article or encounter meant to you.

Instructions

Please include the following in the reply box below:

  1. For a news article or other media, please include the link or source. For an open house or social event, please provide the contact information of the real estate professional and office affiliation.
  2. Provide at least a single paragraph explaining why you chose this article and what it means to real estate today. What did you learn from the article?
  3. For an open house, briefly describe what was discussed in a paragraph or two and explain if you would follow their business style. Why or why not? What would you change?

Answer preview

Real estate is a dynamic industry that keeps changing because of internal and external market forces. Currently, the real estate situation in different states in our country varies depending on different factors. For this assignment, I chose an article discussing the current real estate boom in Austin, Texas, in 2021. I chose this article because it is a representation of the rapid changes that happen in real estate in our country. According to CBS News (2021), the housing prices in Austin have grown by over 18% in the last year. The demand has surpassed the supply, and low-income neighborhoods have become affluent places where previous working-class tenants cannot afford to live. The growth is expected to increase with homeowners who can pay cash upfront remaining as the favored category in recent events. From this article, I learned of the impact of a growing economy on real estate. Austin has attracted major companies like Google, Tesla, and Apple (CBS News, 2021). The economic growth has resulted in higher migration rates into the state and, consequently, higher real estate prices.

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