What’s more valuable, Austin’s housing market or Coca-Cola?

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We’ve all heard that the Austin housing market is valuable. But just how valuable?

The total value of Austin’s residential real estate market is $222 billion, according to an Aug. 28 report by LendingTree.

That’s slightly larger than the perceived value of consumer goods company Procter & Gamble Co. (NYSE: PG), which has a market capitalization of $205.6 billion, but just behind Intel Corp. (Nasdaq: INTC) at $222.9 billion, based on Friday afternoon share prices. LendingTree’s $222 billion estimate of the Austin housing market also surpasses the market cap of big names such as Walmart Inc., Coca-Cola Co., Netflix Inc. and PepsiCo Inc.

For comparison, Apple Inc. (Nasdaq: AAPL) is the world’s most valuable corporation with a market cap of nearly $1.1 trillion.

That is more valuable than all but the most expensive housing markets in the nation: only New York at $2.5 trillion, Los Angeles at $2.2 trillion and San Francisco at $1.5 trillion break the 13-digit mark on the LendingTree study.

Market cap is calculated by multiplying the number of outstanding shares of a company’s stock by its share price. It’s a good indication of how valuable the public considers a company, although it doesn’t give the total equity value of the company because it ignores things such as preferred shares that aren’t available on the open markets.

Austin’s $222 billion of housing stock is also about as valuable as the entire gross domestic product of Vietnam, estimated at $220.4 billion in 2017 by the CIA.

Austin ranked No. 22 in the LendingTree report, which came in between No. 23 Tampa, Florida, and No. 25. Charlotte, North Carolina.

Across the country, Americans own $28.4 trillion of residential real estate, according to LendingTree. To come up with the data, the website looked more than 155 million properties as of June 26.

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