Drop Dead Fred
Diamond Member
- Jun 6, 2020
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In Austin, rents fell by 22% after they allowed higher density and taller buildings, made it easier to get building permits, and eliminated parking space requirements.
I'm about 99.99% certain that San Francisco will not copy this real world example of how to create affordable housing.
In addition to posting this article, which compares Austin to San Francisco, I'm also posting a 15 minute video that shows why San Francisco has such a shortage of housing. The economically illiterate, left wing, progressive activists who protest against building new housing actually think that increasing the supply would cause prices to get higher instead of lower. These left wing, progressive activists are also against building new housing because it would cast a shadow. San Francisco elected official Hillary Ronen also says she's against building new housing because it would cast a shadow. And the voters keep electing her again and again.
Original: https://www.bloomberg.com/news/feat...e-22-from-peak-on-massive-home-building-spree
Archive: https://archive.ph/U1oVB
Austin Rents Tumble 22% From Peak on Massive Home Building Spree
One tenant got two months free, $600 credit for signing lease as deals abound
By Joe Lovinger
February 27, 2025
As the US confronts a housing crisis so severe that it became a wedge issue in the presidential election, helped fuel some of the fastest inflation in decades and made it all-but-impossible to recruit teachers, fire fighters and restaurant workers to high-cost areas, the Texas capital has become the poster child for advocates who say the only way out is by building more homes. And while other cities run by progressives including San Francisco and Chicago face criticism for onerous permitting processes, Austin has cut regulations to speed up development. It appears to have worked.
Nowhere in the country have rents declined as much as they have in Austin — now 22% off the peak reached in August 2023, according to Redfin. The median asking rent is $1,399 per month, down $400 in less than three years.
Developers dumped almost 50,000 rental units on the city in 2023 and 2024, according to Fannie Mae data. That represented a 14% increase in the supply, the biggest on a percentage basis for any major US metro area.
He focused on slashing delays in the permitting process, and the city scaled back rules that limited the height of buildings within 540 feet (165 meters) of single-family homes. Austin also became the largest city in the US to end parking mandates.
I'm about 99.99% certain that San Francisco will not copy this real world example of how to create affordable housing.
In addition to posting this article, which compares Austin to San Francisco, I'm also posting a 15 minute video that shows why San Francisco has such a shortage of housing. The economically illiterate, left wing, progressive activists who protest against building new housing actually think that increasing the supply would cause prices to get higher instead of lower. These left wing, progressive activists are also against building new housing because it would cast a shadow. San Francisco elected official Hillary Ronen also says she's against building new housing because it would cast a shadow. And the voters keep electing her again and again.
Original: https://www.bloomberg.com/news/feat...e-22-from-peak-on-massive-home-building-spree
Archive: https://archive.ph/U1oVB
Austin Rents Tumble 22% From Peak on Massive Home Building Spree
One tenant got two months free, $600 credit for signing lease as deals abound
By Joe Lovinger
February 27, 2025
As the US confronts a housing crisis so severe that it became a wedge issue in the presidential election, helped fuel some of the fastest inflation in decades and made it all-but-impossible to recruit teachers, fire fighters and restaurant workers to high-cost areas, the Texas capital has become the poster child for advocates who say the only way out is by building more homes. And while other cities run by progressives including San Francisco and Chicago face criticism for onerous permitting processes, Austin has cut regulations to speed up development. It appears to have worked.
Nowhere in the country have rents declined as much as they have in Austin — now 22% off the peak reached in August 2023, according to Redfin. The median asking rent is $1,399 per month, down $400 in less than three years.
Developers dumped almost 50,000 rental units on the city in 2023 and 2024, according to Fannie Mae data. That represented a 14% increase in the supply, the biggest on a percentage basis for any major US metro area.
He focused on slashing delays in the permitting process, and the city scaled back rules that limited the height of buildings within 540 feet (165 meters) of single-family homes. Austin also became the largest city in the US to end parking mandates.
