The value of Austin’s housing market soared by nearly 40% during 2021, nearly double the national average. But what role did a certain crypto-touting, electric vehicle-building entrepreneur play in this market’s success?
What Happened: The total value of U.S. homes reached a record $38.6 trillion in 2021, a $6 trillion or 18.6% year-over-year spike according to data released by the brokerage Redfin (NASDAQ:RDFN). However, home values in the Texas capital swelled by 39.2% year-over-year to $365.9 billion, a $103 billion increase and the greatest gain among the nation’s 100 largest metropolitan areas. Redfin also noted that increase was roughly equal to the 2020 GDP of Ecuador.
