[imposterr]

And yet it's gone down.

>Austin rents have come down 7 percent in the past year.

from https://www.theatlantic.com/ideas/archive/2024/03/austin-tex...

Turns out actually building homes works :surprised_pikachu:.

[hi-v-rocknroll]

My lease rate went down 40% in ATX. They're basically begging me to stay in the penthouse at this point. I won't because the neighbors here are disrespectful (loud - I can hear their howling and yapping dogs barking through the "concrete" floor at all hours of the day and night), let their dogs piss and shit all over the front of the building, and the people moving in are insanely ignorant, uncool, and anti-social.

[serf]

>Turns out actually building homes works :surprised_pikachu:.

more like it turns out that having a wrongly-promised false market of endless real estate customers prompts municipalities to (over)-invest in the housing market.

to our benefit this time, but let's call a cat a cat; it was due to over-provisioning based on incorrect future forecasts, not some altruistic political maneuver to benefit housing costs for residents; just a carrot for an audience of Austin hopefuls that eventually evaporated to the benefit of locals.

Would this work elsewhere? Yeah, up until you hit the problems with excessive over-spending and waste of workforce -- which is to mean it's not a solution.