March 6, 2017
Rapidly rising housing prices throughout Texas are, in many cases, outpricing would-be homeowners and renters. This trend is especially clear in East Austin, where increasing housing costs, combined with lower-income residents, is creating a housing crisis.
In their article, “Change and Challenges: East Austin’s Affordable Housing Problem,” by Harold Hunt and Claire Losey with the Real Estate Center at Texas A&M University, changing demographics, low income and constrained housing stock in this submarket are driving out those who could once afford to live there. In 2015, Austin was the least affordable housing market of the four major Texas metros. “Previously affordable areas are now unaffordable, leaving homeownership out of reach for much of the population,” the writers note.
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