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Old 11-05-2015, 06:47 PM
 
Location: Holly Neighborhood, AUSTINtx
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Housing affordability here in Austin has been on a huge downward trend since about 2012. Some of this was caused by little added supply between 2008 and 2011. Land prices have even impacted non-profits:

"To accommodate increased density in the Austin area and in response to land shortages, Austin Habitat plans to begin building two-story and attached multifamily housing in Austin starting in fall 2015 and during 2016, Director of Operations Greg Anderson said."
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Old 11-06-2015, 07:28 AM
 
Location: Pittsburgh, PA (Morningside)
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Here in Pittsburgh, home ownership has gotten significantly more expensive, but that just means it's gone from ridiculously cheap to slightly below average for a major metro. When I first moved here 10 years ago you could buy a livable house for $30,000 in a walkable city neighborhood. Now, essentially all of the non-ghetto walkable neighborhoods have gentrified. If you want a real deal on a house, you need to go to a more sketchy area, or someplace which isn't particularly walkable.

Rents though, have gotten out of control, at least within the city proper, and are a bit above national averages. Essentially the many new young transplants who move to the area do not want to buy houses, they want to rent. But Pittsburgh has always been a city dominated by rowhouses (in the older neighborhoods) or single-family houses (in the newer ones) with relatively few apartment units. Even though hundreds of new apartment units are being constructed per year now, it's not enough to stop the escalation of rents, particularly in desirable areas, but also bad areas, as the shortage of units to rent is affecting the entire market.
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