matthestMar 19

Austin’s surge of new housing construction drove down rents

https://www.pew.org/en/research-and-analysis/articles/2026/03/18/austins-surge-of-new-housing-construction-drove-down-rents

Austin’s Surge of New Housing Construction Drove Down Rents

After decades of explosive growth, Austin, Texas, in the 2010s was a victim of its own success. Lured by high-tech jobs and the city’s hip reputation, too many people were competing for too few homes. From 2010 to 2019, rents in Austin increased nearly 93%—more than in any other major American city. And home sale prices increased 82%, more than in any other metro area in Texas.

Show threadpclowesMar 19

Its wild how the solution to housing costs is really just:

Build more housing. Keep law and order.

No it doesn’t need to be “affordable”. Yes rent control is a terrible idea.

Just build more housing.

Note: that the US already has plenty of housing and housing costs basically go up in areas of low crime relative to economic opportunity. If you build housing, but allow crime to rise, you have wasted everybody’s time.

Show threadestearumMar 19

New construction has already decelerated in Austin due to falling prices, which compresses already-near-zero margin on real estate development.

So yes, it really is "just build more housing." The problem is: why would you build more housing as prices fall?

Show threadterminalshortMar 19
Because home builders don't make money by buying and selling houses, they make money by building them and selling them.
Show threadnsnzjznzbxMar 19

But building cost > sale value is possible.

Or land ends up better value left as suburban house than developing up.

Or they build where sale cost - build cost is maximized. I.e. different city.

Governments need to build more housing. Make it bland so snobs can price discrimnate themselves to buy builders' homes. Why thrifts by the government home for value for money (and quality).

Show threadvascoMar 19
You think the government knows better how to identify land that is profitable than private builders? Why? Or is this one of those opinions based on "is OK for the state to pay for it because there's infinite money for my pet project"?
Show threadnsnzjznzbxMar 19

Because I grew up in the UK and there is a fuckton of government housing from 60s and 70s. It is ugly but it is housing people.

Government doesn't need to make a profit due to taxation.

Show threadghufran_syed
[flagged]
Mar 19 at 4:57amWeb
Show threadlocknitpickerMar 19

> like the fine example of Grenfell tower

The Grenfell tower fire was caused by a renovation intended to improve thermal insulation.

The renovation project used an external thermal insulation system that failed to meet both the manufacturer's recommendation and building regulation requirements. The particular system was actually banned in the UK while it was installed.

Tell me why you believe this has anything to do with public housing.

Show threadtomhowMar 19

Please don't introduce an isolated tragedy to engage in ideological battle.

Comments should get more thoughtful and substantive, not less, as a topic gets more divisive.

https://news.ycombinator.com/newsguidelines.html

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