AUSTIN | Projects & Construction III

[jtown,man]

I've seen this issue (urban housing affordability) in Austin and many of it's peer cities.

Its actually cheaper to live in urban Chicago than urban Austin or Nashville. It simply is. Chicago has way more inventory and less population growth. Austin and Nashville have a very small stock of urban housing stock which has caused what limited stock they do have to increase in value to insane levels.

Add in the need of a car in Austin and Nashville, and a place like Chicago (or Philadelphia) become increasingly attractive.

[kingkirbythe....]

Originally Posted by jtown,man

I've seen this issue (urban housing affordability) in Austin and many of it's peer cities.

Its actually cheaper to live in urban Chicago than urban Austin or Nashville. It simply is. Chicago has way more inventory and less population growth. Austin and Nashville have a very small stock of urban housing stock which has caused what limited stock they do have to increase in value to insane levels.

Add in the need of a car in Austin and Nashville, and a place like Chicago (or Philadelphia) become increasingly attractive.

Yes. I lived in Austin for 10 years, and then I lived in Chicago for 10 years. Chicago was much cheaper in live in. Not having to have to have a car really makes a difference. I rented in both cities and Chicago was cheaper there too.

[H2O]

Originally Posted by kingkirbythe....

Yes. I lived in Austin for 10 years, and then I lived in Chicago for 10 years. Chicago was much cheaper in live in. Not having to have to have a car really makes a difference. I rented in both cities and Chicago was cheaper there too.

And yet Austin and Nashville are the places that are growing. Apparently more people value other qualities over affordability. I think Chicago is a great city, so don't take this as a bash, but there are a lot of cities in this country that are more affordable than Austin and Nashville because they are not growing. There is a correlation.