Austin now Permitting as Many New Housing Units as Atlanta (live, state)
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Through first 10 months of the year, Austin has permitted almost as many new units as Atlanta. Last year, Atlanta permitted 10k more. Austin's going in heavy on apartments and condos, but this suggests not just percentage growth, but its numerical growth could catch Atlanta's.
Through first 10 months of the year, Austin has permitted almost as many new units as Atlanta. Last year, Atlanta permitted 10k more. Austin's going in heavy on apartments and condos, but this suggests not just percentage growth, but its numerical growth could catch Atlanta's.
All this suggests to me is that Atlanta's housing market is completely out of whack. The real estate crash really did a number on its homebuilding industry and it's not even close to recovering from it. A metro area adding ~90,000 per year should have way more housing permits than 28K.
It really says nothing about Austin, other than perhaps it's in a massive real estate bubble.
The real story in those numbers is Dallas and Houston. Their numbers are massive compared to all other cities. Texas is doing something right!
I wouldn't say that.
Being home to the largest homebuilder in the country (D.R. Horton) and having some of the most develop-able land in the country (compared to Atlanta whose land is extremely forested and hilly) really has more to do with it.
Not to mention, the fact that Texas was largely spared from the effects of the Great Recession and crash in home prices because of the oil industry.
Being home to the largest homebuilder in the country (D.R. Horton) and having some of the most develop-able land in the country (compared to Atlanta whose land is extremely forested and hilly) really has more to do with it.
Not to mention, the fact that Texas was largely spared from the effects of the Great Recession and crash in home prices because of the oil industry.
Weird thing about Texas that I haven't quite understood or figured out, is despite how much space they have for developable land, they are fairly stringent on actual development - The houses are great but lot sizes are pretty small in most cases and despite how sprawly their metro's are, developments themselves are pretty compact, almost dense. Then there's also higher property taxes.
The saying goes, in Texas we have the most land but no one can have it.
As for Austin - I believe what the OP is referring to is CODENEXT4 of which is a massive rezoning overhaul to its metro which will allow for multifamily homes in single family home areas and will also give land owners the choice to add mother-in-law or sister units during a tear down and rebiuld.
Austin metro home prices are a bit higher than Atlanta metro prices and the hope is by adding more units that prices drop down and people can live closer to the core. I have mixed feelings on it personally. I do like the idea but I'm not sure I like the implementation. These rezonings have spread out into very high end areas (which are SFH) and very prestigious developments, over the hills and also right outside of downtown and I'm concerned that it may very well wreck those neighborhoods.
Quote:
Originally Posted by NorthAtlanta
Building too many housing units in a way is not good, especially for an MSA that's half the size of Atlanta or Miami or 1/4th the size of LA..
From my understanding, the zoning will allow for the housing to be built as needed but not in excess so to speak - it basically just relieves the restrictions land owners previously had over what kind of developments could go where.
Austin actually does kind of have a housing crisis. Alot of people moving here from more expensive metro's buying homes in cash or in bulk leaving the middle man either in an apartment or a very high mortgage. Its also been among the fastest growing MSA's for some time now. When that bubble will pop, or if it even will. I'm unsure. I believe it will depend mainly on the IT sector of the economy.
Quote:
Originally Posted by Atlanta Scientist
It's for MSA.
But Austin is permitting more housing units than Boston, DC, Miami, Los Angeles and San Francisco.
Supposedly, atleast in San Fran - the home prices are kept artificially high due to the metro being stringent on new development making less housing to meet the demand.
Last edited by Need4Camaro; 12-26-2019 at 11:16 AM..
The real story in those numbers is Dallas and Houston. Their numbers are massive compared to all other cities. Texas is doing something right!
It's a rare thing called affordable, something lacking in many cities these days.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
