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"The Weirdest Housing Market in Recent History"
Plain English with Derek Thompson
Rapid Growth and Decline in Austin's Rental Market
Austin experienced a significant increase in rent and housing supply, leading to a decline in rents by 7% year over year. The city responded to high demand by adding homes at a rate nine times faster than cities like San Francisco, Los Angeles, or San Diego. The surge in housing supply resulted in over 10,000 unsold single-family homes on the market, marking the highest inventory level in over a decade.
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