Austin Is Becoming The New L.A. San Francisco Californians Moving To Texas Housing Unaffordable | The Millionaire Morning Show w/ Anton Daniels

What do we got here coming up? Ah! Okay. Austin. Austin. This is the the mayor of Austin and his name is Robert Morris. Oh no, not Robert Morris. Robert Morris was the religious leader. Let’s see. Mayor of Austin. Kirk. His name is Kirk. Kirk Preston Washington. Kirk Washington is the mayor of Austin and has been immersed in public policy in both the local and state local government and the state government in Texas for over three decades. He was an American attorney and politician who served as the 59th mayor of Austin, Texas since 2023 previously holding office as the 54th mayor from 97 to 2001.

So he was previously the mayor. He’s 66 years old. He’s a Democratic mayor. His spouse is Liz. He’s from Oklahoma City, Oklahoma, and he is currently the mayor of Austin. If we got anybody inside of Austin in the chat, let me give a round of applause. They say that Austin is San Francisco, LA South. Austin is Los Angeles and San Francisco South. All right. So I said, all right, well, let me put Austin. Let me put Austin inside of my YouTube algorithm and do a little bit search. And I’m gonna just pick up the first thing that I could find.

And the first thing that popped up, the very first thing that popped up when I put Austin inside of the algorithm is two people shot and killed at a Juneteenth event outside of Boston. And so I haven’t seen it yet. I don’t know if I’m gonna be Rick Roll, but let’s just go with it. And sadly, there was another mass shooting overnight. This one. Hey, you’re kind of cute. I ain’t even going front. You kind of cute. My name, the name John Marie, that’s super chat shortly. Thank you for contributing to the platform.

She got her baby hairs. It looked like real baby hairs and everything. Listen, we got to show love to the, to the news anchors and the ladies that’s out here holding it down on this platform. Texas during a Juneteenth event, ABC’s Melissa Adon is here now with those details. Melissa, good morning to you. And Janee, good morning to you. Such devastation over at a Juneteenth celebration. This one happening in Round Rock, Texas. That’s just outside of Austin. This is where officials say two people were killed, six hospitalized, including two children.

Now overnight, this is what we’re learning from police. They’re sharing that a deadly fight broke out. Police alleging that at least one suspect took out a gun and fired. Police say multiple victims were then struck by gunfire, including bystanders. Now two people dying from their wounds, the shooting happening at the old settlers park near the concert stage. This was with a packed crowd where the community of Round Rock, Texas, was actually hosting their second annual Juneteenth celebration. Now, at this point of the investigation, it is early on and police just do not know how many shooters were there because all of those suspects at this point are at large.

But this morning we’re talking about those six people that are hospitalized officials. They’re saying that they’re all facing possible serious injuries, including those two children. So at least two people killed multiple different children, others injured at a Juneteenth celebration over in Austin. I said, wait a minute, wait a minute. They’ve been covering up Austin. They’ve been trying to keep Austin off of the radar and they try not to say nothing. Now, one of the things that incentivized me to start looking at Austin is because people kept sending me stuff from Instagram and TikTok.

And then when I would go in and I like to read the comments, because I just want to see what the context is from a lot of these places, when I go in and I read the comments, I’m like, uh. So basically everybody is including or they’re incentivizing or they’re pushing for everybody to move to Austin, Texas. Everybody is pushing for people to move to Austin, Texas. But they’re actually pushing them from a certain place. Shout out to self-made forever. I’m gonna read that super chat shortly. They’re pushing them from California. So I’ve seen so many little lily white girls, 25, 26, 27, 28.

Oh my God, the dating scene is awesome in Austin, Texas. Or the dating scene is kind of just like LA, but then it may be because everybody that was from LA is moving to Austin, Texas. So it’s almost like everybody is moving from when they move, they don’t go to Houston per se and they’re not going to Dallas necessarily. Sometimes they’ll consider it, but their preference is to move to Austin. This content creator’s name is, uh, this is John Williams. This is John Williams. And so this was the second thing that popped up in my algorithm as far as what Austin, Texas is.

All right. So let’s go through what his assessment is and then we’re going to try to make an informed decision and y’all let me know if I need to be covering more Austin, Texas content to understand whether or not y’all turn in Texas blue. Hey, what’s up guys? John. Shout out to Craig G. I’ma read that super chat shortly, my friend. I appreciate you. Signs are peppered all throughout the outskirts of Austin sold, sold, sold, Lenar, D.R. Horton, a lot of these big home builders, and I’m going to walk and talk and show you exactly what’s going on.

It is shocking. It looks like there are maybe two, 3 million housing units or homes under construction or completed. Sounds like a bubble to me. Sounds like a bubble to me. You know what happens when you start to build all of these houses at the same time, a lot of times because you’re anticipating people all moving there and these home builders, they smart and so they know y’all going to go over there and spend money and so they’re going to get two to three hundred percent on their money because they mass producing these homes.

And I even talked about this inside of the Patreon, the difference between a big home builder like Lenar or Pulte Homes or something like that versus actually having your architect or your own contractor and hand picking things and then do it in the slow way. Y’all not a part of the Patreon. Link is in the description. I just dropped the video with regard to real estate and property ownership and I took y’all through what is almost the finished project of my first build. One hundred percent out of pocket. No financing. Make sure y’all tap into that.

But when you’re talking about building two to three million units, you know that everybody is moving down to Austin from California because that’s the only place that they can come from. There is no mass movement from any other state except for California and the Texas. You got some people from New York but a lot of times New Yorkers, they still keep a place over in New York. I don’t know what it is about you know having a place in a rat infested area that has a lot of roaches. But for whatever reason people love standing in New York that’s originally from New York.

They always go back, they always keep a place there. The people from California it’s almost like they was never really there in the first place right. So they got to be coming from California and them homes are absolutely trash in my opinion. And they cookie cutter, they all look the same, none of them have no character, none of them stand out from the other one. But neither here nor there. Let’s continue to see what it is that he got to say. To me it looks like we’re walking into one of the biggest bubbles in history inside of Austin.

The reason for it is Austin was predominantly built based on the 2020 situation. You know people were leaving LA, they were leaving San Francisco, they were leaving New York City. Austin, new construction everywhere. A national survey showing it’s the most popular place for Americans to move during the pandemic. And they were looking for a place in which they could reduce their tax base, have a little bit more freedom and flexibility and looking for a place in which they could kind of live a normal life. And so everybody went to Austin.

And now it’s gone through a big change because the home builders essentially took over that opportunity. And now what’s happening is these home builders. Look at that cookie cutter place. Cookie cutter. Y’all know they be using local contractors to do a lot of that stuff and then they nickel and dime the local contractors. I can’t wait to break down exactly all the things that I’ve learned. Even the contractors was telling me from these large home builders, it was like anti. They nickel and dime us, they do us dirty, they be late on our payments and all of this stuff.

But this is an industry that I wasn’t even familiar with until I started to actually participate in it. But let’s continue. Lenard, D.R. Horton and others are looking at this saying, you know what, how can we compete against these other, you know, these everyday property owners here? Well, what we can do is we could reduce interest rates, we could reduce our prices and we could offer incentives. Incentives that homeowners can’t really offer. I mean, look at this. Sold. Next one sold. Next one sold. Sold. It’s fascinating because look at the size of these homes, by the way.

Look at that barn. Listen, that ain’t nothing but. Listen, what you see right there, in my opinion, that’s a trailer home. But it’s just got a foundation. All they did was remove the wheels, throw some siding on that joint and then threw a front door on that joint. That is a trailer park home. If you ask me, I don’t know, some of y’all just call it a small home or a mini home or something like that. That does not look like when y’all go to these places and y’all be like, oh, man, I’m about to pay $600,000, $500,000, $500,000 for a home.

Is this what y’all have in mind when y’all looking to do that? It used to be an American two-car garage. Now this is a new home, right? And these homes are, they start in the mid threes, which is pretty affordable, but they go all the way up to a million dollars. So inside of Austin, like proper downtown, inside of the center, city of Austin. You know what it’s costing them? They paying for the land. They paying to develop the land. That’s it. That home, that home right there. And see, I know, see now I can speak to it because I know exactly what it takes to build a home.

Why? Because I built the home from scratch and throughout the entire process, I participated in it. I know exactly what it costs for excavation. I know what the labor is. I know what the lumber is. And I know that Austin is getting cheaper labor and cheaper materials than they doing up north because they got so many immigrants down there in Texas. Right? And so I know what the numbers are. I know exactly what it costs to frame the home. I know exactly what it costs to lay a driveway. I know exactly what it does to excavate.

I know what the windows cost. I know what the flooring costs. I know everything as far as insulation, all of that dry walling at a mass scale. And that home costs nothing. It’s not even a two-story home, fam. Austin, they have 120,000 apartments under construction. For context, there’s only 240, 245,000 renters. So they’re bringing forward 50% increased supply. Another one sold inside the next 24 months. A 50% increase in supply. So think about this if you are a property owner. What does that mean? Well, think about it. If people are going to look at, you know, the cost of rent versus the cost of owning, and they’re going to see an increased another one sold.

They’re going to see increased insurance, increased interest rates to borrow money. And then they’re going to look at falling rents. Who are they going to, who are they going to want to do business with? I think that is going to be a market correction and a real estate market in certain markets. I don’t think that it’s going to happen. And don’t take my word for it. This is just my prediction. I’ve been right almost every single time in the past with regard to stocks and everything like that. But I think that there’s going to be a market correction.

Not a recession. Not a busting of the bubble. Not something like the home crisis in 2008. Because people can’t afford homes. The difference between now and 2008 is that there’s not a lot of people putting their homes on the market because people can’t afford to move. So if you sell your home today, and then you go and move somewhere else, and then you’ve got to take out another mortgage, you then have to basically take on a 7% interest rate, whereas you might have got it for 2%, 3%, 4% in the past, or what your current market rate is.

Because everybody was going through the whole refinancing process during the pandemic. But people don’t have the ability to be able to move because they’re priced out of even being able to take on another mortgage because they can’t afford it. And then you start to tack on all these HOA fees on top of it. And so the market is regulating itself in that the interest rates are preventing people from getting out and selling a bunch of homes. Whereas 2008, anybody could have got approved for a home. And basically, people couldn’t even afford those homes at all.

So most people are staying put. However, when you have the difference between then and now is now you have a building crisis, right? It’s not just an affordability crisis, it’s a building crisis. So the builders have to continue to put out product. And so what they’re doing is they’re basically going over into these hot markets, places like California is supporting this whole movement into this bubble. And you got places like Austin and Tampa, especially considering that home insurers are pulling out of California and they also pulling out of Texas because you had a whole bunch of people ran over there.

They ran up the prices, now it’s unaffordable. They pushed everybody up north. And so I think that there’s going to be a market correction pretty soon. Pretty, pretty soon. As long as prices stay high, inflation is high, the Fed can’t lower the rates, they’re not going to do a rate cut because they can’t continue to or they have to in some way, shape or form, the only way that they can control inflation, especially since we got like three wars going on and we continue to get money overseas, there has to be a market correction because the unaffordability of these places and who’s going to buy them? Who’s going to buy them? Somebody is going to have to take a loss, it’s going to be a market correction.

And then that’s where the buying opportunity comes in. And that’s why you got to tap into the page around. Link is in the description as well as pin to the top of the chat. Be patient, y’all. Patience, patience, patience, patience. The minute that you keep moving based off of the fear of missing out, you jumping into the market, oh man, I got to hurry up and buy the house. Everybody going to buy. You’re going to get your head cracked. Patience. When the pandemic hit, I stopped buying real estate altogether and I started buying land.

I stopped buying homes that were already built. I started purchasing land and that’s when I started to learn how to develop on myself. I’m not going to jump into the mire just because everybody else is doing it. I’m going to be patient. I’m going to learn what I learned. I’m going to make the adjustment. I’m going to pass the information onto the back chases and the Patreon members and then we’re going to run it up from there. But this is the time that we start stacking our chips. This is the time where we start to put ourselves in a position to be able to leverage our assets.

Why? Because when there’s a market correction, that’s when you take advantage of people that jumped in and had to fear missing out because they can’t really afford these properties in the first place. The landlord is going to be able to rent the cheapest, right? Meaning that a lot of this equity that these property owners felt that they had is going to start to get absorbed. It’s going to slowly start to contract. And as this equity continues to contract and taxes and insurance go up and a lot of the job opportunities that people thought were going to be permanent in Austin start to kind of fade away.

More tech companies move out of their offices in the Austin area. Oracle is considering relocating its headquarters from Austin to Nashville, Tennessee. I think what we could see here is a major, major change in this video. I’m going to give you a tour of exactly what’s going on. So you could form your own opinion and you’ll see very, very clearly what Austin Texas is going to look like in 2024, 2025 and 2026. Please hit the like button, people share the content, educate more people about what’s really going on in the US economy.

If you’d like to fix your credit, we’d love to help you. Again, this is from his name is this is John Williams. Make sure you all support his platform. I like to support all content creators. So if you guys are interested in this platform and you like what it is that he’s saying, let them know that Anton from AntonDangers.com sent you. Big city blocks, a residential block. You will see another community that’s being built. And this community, it looks like it’s exclusively apartments and it looks like it’s probably somewhere around 150, maybe 200 units.

Horrible. And they are breaking ground. This is what it looks like over in Tampa, but near Tampa on all of the outskirts of Tampa where they can start to get land. And so they basically tearing down all of the trees and they raise and everything so that they can start to build out more of these cookie cutter homes. This is exactly what it looks like. And it’s absolutely horrible. It’s like I’m trying to think of a cartoon. They’re basically completed the framing. Austin and Nashville is right here. And this property is likely going to be either condos or for rent.

There’s four floors. One, two, three, four floors. And this is just one community that’s inside of this neighborhood. When you cross the road, which I’m going to do for you and show you, you will see there’s another, I would call it a thousand houses, maybe 800 houses that are being built. That level of growth right now. So inside of this one community, building schools, libraries, you got to build the infrastructure, sewage, water. How can I sustain this level of growth? Hundreds and hundreds and hundreds of homes and affordability crisis, people that want to live in Austin.

What are they going to do? Well, they’re going to live outside of Austin and they’re going to make the commute. And so the people that are living outside of Austin that are going to make this commute are going to look to save money. And so what are property owners inside of the city of Austin going to do? Well, they are going to try to thin that gap to make it more attractive for them to stay inside of Austin, just a little bit more expensive to stay in Austin than it would be outside of Austin.

But they’re going to continue to narrow this gap to try to keep people inside of that city. When you look at townhomes, I’m going to show you the skyline next and you can see for yourself how much inventory is coming and what this is going to mean for Austin, Texas. On the way to Austin, I drove less than three miles and there’s another community that is now being built. It’s called the colony. It looks like a colony when all these big home builders went out and acquired hundreds of thousands of acres all throughout the cities of Houston and Dallas and Austin to build all different types of homes, decayed all different types of buyers.

It looks like here would be where the executives, wealthy people would live. And then the other condos and those smaller properties are going to be where a lot of the staff live and a lot of the open comers are going to live. I’ve never seen this much construction in my entire life. And what’s crazy is this pales in comparison to the amount of construction that’s actually going on in LA. I mean, look at the community. Look at the poor upkeep. This could be a sign that the home builders could be in trouble.

Look at how high that grass is. The house directly next door. It’s the same thing. The one right after that one, same exact thing. The one all the way down at the end, same thing. Home builders could be in really big trouble. They could be in really, really, really big trouble. Don’t invest in home building companies, y’all. We’re going to cover that in the next stock club. Trust me, it’s going to be a good one. Dead grass. I mean, is this a home builder to, in your opinion, to, it looks like they have really strong financials or is this a home builder that looks like they’re not going to lose this inventory and they’re almost quitting.

Let’s see how many more communities in the sky. Look at all the next show. One, two, three, four, basically the entire skyline is being redone right now and this is just one section of the skyline. When I show you a different angle, you can see the cranes in the back behind these buildings. You’ll realize that these home builders and these condo builders and apartment builders are in such big trouble and America doesn’t realize it just yet. So what these builders do is they borrow or raise money and a lot of the money in which they borrowed a couple of years ago is at much lower interest rates and rents were much higher because everybody wanted to be in Austin.

There’s big job opportunities. It was the place to be. And so now as rents are starting to come down and you’re seeing a lot of inventory hit the market and interest rates skyrocket and property tax and insurance skyrocketing, the values of these buildings are falling dramatically. And so as these owners and these investors and these REITs have to refinance these loans over the coming year or two, it’s going to be a big issue because actually a lot of what they do is a lot of these builders, right? What they do is they build these buildings and they finance the whole process.

A lot of people may not necessarily be familiar with this, but I’m going to fill you in and then we’re going to move over into the next subject right after we read the Super Chats. What they like to do is they like to build these buildings, right? And the builder is not necessarily looking to fill the building up necessarily right away, but eventually they want to fill it up to a certain capacity, which then enables them to be able to find a buyer because there are ready-made buyers that are looking to not necessarily getting to the building process of these buildings, but ultimately get into communities that they think are growing and then they then take over the property.

So the builders are incentivized to hurry up and get down with the building, which y’all gonna pay high HOA fees, y’all gonna all run over there, y’all gonna run from California in order to do it, and then you gonna find it under new management or it’s going to change owner’s hands two or three times to ultimately find a person who’s going to be your landlord or because a lot of these buildings are not even going to be condos. A lot of these buildings want to be in apartments, but they’re going to be your landlord because they’re marketing it to larger companies that are basically taking over United States of America, real estate, and I don’t want to name any of the companies, but y’all can figure it out for y’all.

So if y’all can do your own research, we’re going to talk about it inside of the Patreon, especially when we start to evaluate builder stocks in a real estate market. They’re basically hurrying up and trying to get these things done at the fastest rate possible in order to minimize the amount of money that they got to finance as far as what it takes in order to build it and then sell the building off and then make the profit on that end. So when you see, and that ain’t even just the big buildings, it’s also the apartment buildings.

The apartment buildings are very much the same way, and that’s why you see a lot of these cookie cutter apartments going up maybe in your city, maybe in the suburbs of your city. If they can find large enough land, people are not building these apartments. These builders are not building these apartments in order to hold on to them. They’re building them so that they can eventually offload them onto you, and then you become the person, or not onto you, but into a larger company that you don’t really have any kind of understanding of who they are.

They hire property managers, and then you got to pay your rent on time, or they’re going to put their little sticker on top of your door. [tr:trw].

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