The Texas capital, once a classic case of unsustainably rising rents in a hot housing market, is now leading the nation in rental price declines thanks to an unprecedented housing construction boom. Rents in Austin have plummeted 22% from their peak in August 2023, the largest drop of any major U.S. city, according to data from Redfin.
Posted by EricReingardt
6 Comments
Texas will have 42+ electoral votes in 2030 unless it becomes legal to build in blue states (I’m not holding my breath).
Why is New York so behind on this?
No waaaay! More houses= cheaper housing???😲
to be clear, Austin allowed new housing to be built
sorry (not sorry) to nitpick but it really annoys me when people use this kind of language, it’s how you end up with people asking “why don’t they build a grocery store/target/etc” as if the fucking city government is involved in that whatsoever. no. at most the government gets in or out of the way.
My rent only dropped 10% this year, but I’m not complaining.
“More recently, Austin has focused on boosting the supply of single-family homes by allowing developers to build as many as three units on lots that were previously restricted to one home and slashing the minimum lot size to 1,800 square feet from 5,750”
Best I can do is subsidize… supply!