Supply hasn’t kept up with demand almost anywhere except in places like Austin, where you are seeing sustained lower prices because supply finally caught up with demand! That’s the other side of the supply and demand equation.
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Austin is very interesting because all that building happened *before* YIMBY policies. Austin could have produced a building boom at any time in the past few decades with their pre-YIMBY regulations, but did not. Why? In my other message, experts expect undersupply in a few years (despite YIMBYism).
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