Latest news with #KendallGarrison
Axios
28-03-2025
- Business
- Axios
The best time for Austinites to list their home
It's prime time to list homes in Austin, according to a new Zillow report. Why it matters: Sellers who listed their homes in early spring last year made more money on the sale than at any other time of the year. The big picture: The " best time to sell," per Zillow researchers, depends on where you live, and the season starts early in Austin. Across the U.S., homes listed late last May sold for 1.6% more — typically $5,600 — than any other time of year. San Jose, California; Seattle; and San Diego also saw price premiums in March, while late fall was prime time to sell in Tampa Bay and Phoenix. Zoom in: Listing Austin-area homes in the second half of March boosted the final sale price by 2.3%, or about $10,400, on the typical home. In February, the median home price across greater Austin fell 3.9% compared to February 2024, to $430,000, per the Austin Board of Realtors. Within the city of Austin, the median price was just over $560,000 in February 2025. State of play: Mortgage rates remain elevated this spring, and while some shoppers have adjusted to higher rates, many still feel priced out or find few options available. The average rate on the 30-year mortgage has stayed just under 7% for nine straight weeks, Freddie Mac data shows. What they're saying: "Lower prices and rising inventory are helpful, but they don't change the fact that high borrowing costs are squeezing homebuyers," Kendall Garrison, CEO of Austin-based Amplify Credit Union, said in a statement.
Axios
05-03-2025
- Business
- Axios
Trade war escalation: Austin faces big blow from Trump's tariffs
Texas stands to take the hardest hit of any state under the Trump tariffs on Mexico, Canada and China, leaving businesses and consumers bracing for higher prices and economic fallout. Why it matters: If foreign goods cost 25% more, someone has to absorb the difference — either businesses or consumers. Some estimates suggest the new tariffs could cost the average U.S. household $830 a year — and that's before factoring in retaliatory tariffs from Canada, China and Mexico. State of play: Trump triggered a global trade war Tuesday by slapping 25% tariffs on exports from Canada and Mexico and 20% on China. The tariffs on imported goods could cost the Texas economy an estimated $47 billion, per economic research firm Trade Partnership Worldwide. The big picture: The tariffs will affect big-ticket items like cars and machinery, but also consumer staples. Zoom in: "An avocado that you buy at the grocery store is not going to be 75 cents, it's going to be a dollar," Kendall Garrison, CEO of Austin-based Amplify Credit Union, recently told Fox 7 Austin. "That ripples throughout the entire economy: the prices you pay for food at the grocery store or at your local restaurant." Bryan Winslow, co-founder of Austin's St. Elmo Brewing Company, recently told KVUE that in anticipation of tariffs he ordered 400,000 aluminum cans that his suppliers bought a while ago. 💸 Follow the money: Canadian tariffs could blow a hole in the profitability of the Pflugerville-based news organization Community Impact, CEO John Garrett told the Austin Business Journal. A 25% tariff on the paper the company sources from Canada could cost Community Impact — which prints 2.5 million newspapers every month — as much as $75,000 a month. The other side: Trump campaigned on using tariffs to revive domestic industries. Threat level: "Because Texas is the origin, destination or transit point of two-thirds of binational trade, clearly, Texas will be more affected than other states that are not as integrated," Tony Payan, the director of the Center for the U.S. and Mexico at Rice University's Baker Institute, tells Axios.
