The 2019 Austin Housing market looks promising according to experts in the industry. A plethora of jobs are being created in our city and young people are flocking for the opportunity. Apple’s new facility will bring 5000-15000 more jobs to the city and Google has recently announced expansions in the market as well. So is there something Austin should be concerned about? Lots of job growth and young talent moving to the area. All of this sounds great for us but there is an underlying issue that the city is having a hard time tackling. Affordability. The jobs that are being created are mostly in the the central Austin area but affording a home within that area has proven to be extremely difficult with young professional. They are faced with escalating student loans and some with inescapable credit card debt. Many college grads can’t get their head above water let alone afford a house in the city. What is the answer? Last year the city put together what they call Austin’s Strategic Housing Blueprint. It calls for an additional 60,000 affordable units over the next 10 years. It identifies funding mechanisms, regulations and other creative approaches the city should utilize to reach its goals. It’s extremely important that this issue is addressed sooner than later or we may see our young talent and jobs move elsewhere.
2019 Housing Market Outlook-Affordability
About the Author: Brent
Brent Bockholt is the Co-Owner of Austin Property Team (APT) and is in charge of the overall operations and business development. He is an active member of the Austin Board of Realtor (ABOR), the National Association of Residential Property Managers (NARPM) and a licensed Realtor ®