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Upcoming events (5)
Comal Hays REIA meets this Saturday! Look for our group at Panera Bread outside, under the covered patio. There's usually plenty of room to spread out and enjoy the great summer weather, a cup of coffee and engaging conversation with other investors.
The Austin Business Journal published a recent article on the topic of Covid-19's impact on the economy and the commodity shortages we face today. Price inflation is up, as supply is down and demand for goods (and services) outpaces production. LINK > https://www.bizjournals.com/austin/news/2021/07/26/covid-19-shortage-suply-chain.html
Real Estate & Construction lead the way in supply chain shortages. Ask anyone who has attempted to buy, build or sell improved property. Competition is fierce and prices are at an all time high.
The National Association of Home Builders (NAHB) recently reported that material and labor have added an average 26% to the cost of new construction compared to a year ago. LINK > https://eyeonhousing.org/2021/06/builders-report-26-percent-increase-in-material-prices/
The Austin Board of Realtors (ABoR) reported last month's median house price for the Austin-Round Rock metro at $482,234. In June of 2020, during the height of Covid-19, the media price was $340,000. That's a 42% median price increase! The number of Active Listings only highlights the severity of undersupply. In June 2020 there were 5300 compared to 2265 last month. Did the new Covid Economy slow down production or increase demand, again?
No one knows for sure how long it will take for housing supply to catch up to demand (at a somewhat affordable price). What we do know is inflation is real, hard assets are in demand, and production has been disrupted for the foreseeable future. What does this new Shortage Economy mean for Real Estate Investors? That's the discussion for this month.
Whether you're a seasoned pro, looking to do your first deal, or a total newbie to the real estate investment game, we hope to see you this Saturday at our July meeting! We ask those who attend to purchase a food and/or beverage item from Panera, to support their business.
We look forward to resuming our presentation schedule this fall. The new San Marcos Public Library is now open to the public. A number of meeting rooms will be available starting in September. We look forward to meeting at the new facilities with speakers and presentations. Hope to see you there!