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Luxury real estate booms as buyers from both coasts flock to Austin: ‘COVID has set our market on fire’

This 4-bedroom, $10 million Westlake home is privately listed by Moreland Properties. ModernWestlake.com
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When businesses closed their doors in March, Austin realtor Cord Shiflet did not think he would sell another house this year.
To his surprise, this has been the busiest month he has ever seen for well-funded buyers moving to Austin.
"In my 23 years of doing this, the last month has been the craziest, most active market I've ever seen, with big buyers moving into Austin," said Shiflet, who works for Moreland Properties. "COVID has set our market on fire."
Austin realtors say business is booming in luxury real estate, which is a pleasant surprise after expecting sales to plummet due to coronavirus.
The majority of his big buyers have usually come from California, Shiflet said, but now he is seeing a drastic increase in New York executives and business owners who want to move to Austin.
After months of stay-home orders and working remotely, people from both coasts seem to be reevaluating where they live.
"We've just been seeing New Yorkers coming out here in droves," Shiflet said. "They can work from really anywhere in the world, and these people don't want to live in the tight spaces that they're currently in."
Texas has long appealed to people living in more regulated states due to a business-friendly climate and lack of state income tax. Shiflet said realtors are struggling to keep up with the increased demand from new buyers, many of whom are shocked to see how much further their money can go in Texas.
"We're going through our Rolodexes and knocking on doors, trying to find the quality product that these people want," Shiflet said. "They have a hard time believing they can have so much house and so much space and land around them as opposed to the apartments they're coming out of in New York."
Michelle Dolch, a realtor from Austin Luxury Group, said she has experienced the same thing—she even has a few buyers who are looking in the range of $20 million and above.
"We don't really have a lot of real estate in that market," Dolch said. "Our inventory is really stressed."
In addition to those from California and New York, Dolch has seen an increase in buyers coming from Seattle and Chicago, citing complaints about coronavirus and taxes.
"It just seems that a lot of people that have been considering moving here over the years are now coming here all at once," Dolch said. "A lot of people have always considered Austin as a place they'd like to live in. They're not considering it anymore—they're moving forward with it."
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Popular
(Bob Daemmrich)
Hours following the U.S. Supreme Court's ruling to overturn Roe v. Wade, the landmark ruling that guaranteed a constitutional right to an abortion, on Friday, about 1,000 people gathered in Republic Square with signs calling for change.
The rally, organized by the group Rise Up 4 Abortion Rights Texas, started at the federal courthouse on Republic Square on Friday at 5 p.m. before the crowd marched to the Texas Capitol. More protests are expected to ensue over the weekend.
People showed up with all types of signs like Mindy Moffa holding up, "Keep your filthy laws off my silky drawers."
Austin joined cities across the country that saw protests for a women's right to an abortion after the ruling.
According to a recent UT poll, 78% of Texas voters support abortion access in most cases.
Sabrina Talghade and Sofia Pellegrini held up signs directed at Texas laws. A Texas trigger law will ban all abortions from the moment of fertilization, starting 30 days after the ruling. When state legislators passed the trigger law last summer, it also passed laws for more protection of firearms, including the right to open carry without a permit.
Lili Enthal of Austin yells as around 1,000 Texans marched to the Texas Capitol.
From the Texas Capitol, Zoe Webb lets her voice be heard against the Supreme Court ruling.
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(Paxton Smith/Instagram)
Paxton Smith’s 2021 valedictory speech at Lake Highlands High School in Dallas wasn’t the same speech she had previously shared with school administrators. She dropped the approved speech and made a case for women’s reproductive rights after lawmakers passed the Texas "Heartbeat Bill.”
Her advocacy made news on NPR, YouTubeTV and in The Guardian. Just over a year later, the “war on (women’s) rights” she forewarned has come to a head as the U.S. Supreme Court voted Friday morning to overturn Roe v. Wade, ending constitutional protection for abortion access.
“It is up to the people to show up and show the courts and the politicians that we won’t sit back and let this happen,” Smith told Austonia Friday morning. “We will show up, we will fight back. Before, we were scared of them, now they should be scared of us.”
Now a University of Texas sophomore and abortion rights activist, 19-year-old Smith said she wanted to give the same speech in the “the most public way possible” to reach “as many people as possible who don't agree that I deserve this right.”
However, she says the response was “actually overwhelmingly positive” and supportive of her cause. According to a recent UT poll, 78% of Texas voters support abortion access in most cases.
The speech opened up further opportunities for activism: she advocated for reproductive rights at the International Forum on Human Rights in Geneva, interviewed with Variety magazine and spoke to tens of thousands at Austin’s Bans Off Our Bodies protest at the Texas Capitol in May.
Smith also serves on the board of directors for the Women’s Reproductive Rights Assistance Project, a national nonprofit organization that helps fund abortions or medication abortion—like Plan C pills—in all 50 states. Most recently, Smith has been attending protests in Washington, D.C. leading up to the ruling.
“This is land of the free. This is where you get to choose how you live your life,” Smith said. “Overturning Roe v. Wade violates everything that we have come to believe about what it means to live in this country. I think a lot of people aren't willing to accept that this is a human right that is most likely just going to be gone for over half of the country within the next couple of weeks.”
Bracing for the next steps, Smith gave some tips for supporters:
- Find a protest to attend.
- “I would say invite somebody to go to those protests with you, invite a couple of friends, invite people into the movement,” Smith said.
- Talk about the issue on social media—use the platform you have.
- “Have these kinds of conversations where people can just talk about their fears and then find ways to go and advocate for yourself,” Smith said.
- Volunteer at a nonprofit near you.
“I feel like a lot of the reason things have gotten as bad as they have within the abortion rights world is that people are not making a scene, not protesting, not putting the effort into ensuring that the government doesn't take away this right,” Smith said. “I want to emphasize that if you're not doing anything, don't expect the best scenario, expect the worst because that's the direction that we're going in.”
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