Tuesday October 23, 2007, 8:14 am
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Tuesday October 23, 2007, 10:03 am
How is this going to make housing more affordable in Austin? When we lived there, it was THE most expensive town in Tx to build a home in, surpassing Dallas by about 15%. (We left in 1997 and never regretted it). I flat do not understand how he thinks this is going to make them more affordable.

This is the current median house price in Austin as of October 2007 - $491,442

That is affordable? Maybe for someone coming in from out of state, but that is not good for long time residents. Austin has had a problem since the 1990s of people moving in from out of state, particularly places that have an overly inflated housing market and thinking, oh, that inflated prices is great compared to where we were.....and there goes the housing market.