Article: https://www.texasmonthly.com/news-politics/austin-texas-tech-bust-oracle-tesla/
Yup, it pretty much sums up what happened. I'd disagree with when the boom peaked. It always takes a while before major pullbacks. The blizzard of 2021 made people start rethinking Austin, TX as the destination to go to and to stay in. I certainly questioned why I moved there after that (I always wanted to after the first visit) and saw less hyping after that. Moved out of TX 2 years later. Honestly should've seen that blizzard as a harbinger of the health doom I would face in that state that led me to abandon it. Sh*t was happening to my body that I always waved off as nothing.
The weather sucks there. Summer, Winter and Spring suck. You'll get extreme heat, powerful storms, nightly thunderstorms, surprise blizzards, icy rain, etc. Coming from CA, this will damper your enthusiasm for cheaper housing. The heat is something you think you can brush off especially with air conditioning until you experience weeks of it. It's just not fun to deal with. Do you really want to be indoors all summer anyway coming from CA? Most likely not.
Laws that were passed there definitely destroyed hype. Gun laws that let people open carry without a license? The stupidity. What Californian wants to deal with the prospect of unlicensed armed raging unstable maniacs. Obviously for women, no abortions meaning dealing with the prospect of needing it for near death medical reasons and being turned away because some doctor didn't want to be sued.
As I always told people in Texas and California, your decision to move or stay depends on income level. CA has a progressive tax, Texas has a regressive tax. If a state advertises no income tax, that means the other taxes will grab at your money. Property tax is constantly there and TX has a higher rate. If property values increase, your will pay more than others. My yardstick here is If you don't have the income, stick to CA. If you are relatively rich stick to TX.
Good luck to those still moving there. My moving there wasn't a total mistake as I realized what I wanted to do, but clearly the universe steered me to CA instead of TX in '13-14 for a reason. I think if I decide to move in the future that I'll spend some more time in that state via AirBnb or something economical. Monitor my health to see how my body reacts over period of time.