[We vs us]

You don't have to be a Democrat to see the recession -- it's not a partisan issue. Besides the stock market (which has become unlinked from the rest of the economy) all of the indicators point to a nationwide downturn much worse than 2008. Austin is shielded better than almost any other city in the country, so we haven't seen the downsides yet. We may NEVER see it, but we also may just be late to the party.

IMO we may be saved by our place on the tech ladder -- JUST below the major coastal cities. We're one of the next obvious choices if a company decides to reduce its exposure to SF or NYC, etc. Everyone fleeing everywhere else may decide we're the place to land. I think that may be one of the reasons demand -- esp for residential of all stripes -- is still going on.

All that said -- I think there's a good chance that residential towers (rental or condo) will get funding. So I think you'll see Hanover 3rd and Brazos move forward. Maybe 56 East moves forward. I think you might also see, as we saw with 70 Rainey, towers start to rebalance what's going into them. Maybe 4th and Brazos reconstitutes itself as twin rental towers, as a for instance.

I also actually think the hotels along East Ave (Cambria, Fairfield Inn and Suites) might move forward. Hotels aren't all tanking -- limited service brands are seeing major gains at the moment. It may still be too much for a new build near a city center, but I wouldn't count those out just yet.