I have my first anecdotal evidence that gas prices will hurt values in far flung areas and help real estate values in closer areas of Austin. I just helped someone relocate from Wimberley to Austin. The reason for the move? Gas prices have made the commute costs unacceptable. For this individual, the tipping point was reached and the decision was easy.
Wimberley is about 40 miles SW of Austin and is a beautiful, serene place to live. My client had lived there for 7 years, on the Blanco River, in a beautiful setting, but decided to move back into Austin because of gas prices. “I’ll save $350 a month on gas” is what I was told. The tipping point.
Another example; last weekend, I drove my 12 year old daughter out to Elgin to be a “mother’s helper” for the day, keeping her 4 year old cousin occupied and entertained while his parents could actually get a few things done and have grown up conversations. I chatted with my sister in law for a while before I left. I asked “so, do you guys still enjoy being out here in Elgin”?
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