The speculators are here (in Austin) - houses are being sold within 24 hours of being listed, with offers $10k above the asking price. Just crazy.
#12 out of 38 states by per capita income and GSP per capita, and #10 by median household income. Not exactly a bad place to be. (And, as that would suggest, much better than the US as a whole at all those measures.)
NYC is already feeling the pinch of a housing shortage, and is so behind in building that the 2030 population projections had to be revised to account for the serious lack of housing [2].
Texas on the other hand, as bad as urban sprawl can be, keeps building. People move there, housing gets built, and supply meets demand much better than it does in NYC.
[1] http://mas.org/urbanplanning/east-midtown/ [2] http://www.capitalnewyork.com/article/politics/2013/04/85286...
One thing I have noticed in this world is that hypocritical pseudoleftists do a lot more damage, than real leftists or real conservatives, because they think morality is on their side when they wreak havoc.
Also, Russian oligarchs and third-world despots fucked up the real estate markets in NY and CA. They don't live here, but they buy, and that affects everything and makes it a lot more competitive.
This is not a dig against Austin; but the good news is that the foreign speculator scumbags are not going to take an interest in Austin any time soon.
I don't live in Austin, although it sounds like a really cool place. My personal belief is that it needs some kind of centralized planning to keep inefficient growth that becomes tomorrow's legacy problem. I don't like the NIMBY regulations and self-serving injected complexity that often come about; but some kind of planning that encourages environmentally sound and healthy development is always a good thing.