. In 2016, the median sales price was $210,000. Only five years later, the median price sat at $300,000.
Meanwhile, the state’s continued population growth only increases demand for places to live. Texas gainedbetween 2010 and 2020, according to the latest census. It is home to three of the country’s 10 largest cities and four of the fastest-growing. That’s made it difficult for builders to keep up. “There are cities, like Plano and Frisco, that have had real political struggles related to housing affordability because you want to preserve what municipal advocates have called their suburban character,” Mattingly said. “But the truth of the matter is, Plano and Irving, these cities have more national and regional headquarters than in many cities, but they don't have the housing stock that supports that.
In early January, Austin Mayor Steve Adler announced his plan for a $300 million to $500 million affordable housing bond for the city, which has struggled for years to provide enough affordable housing for existing and new residents. A housing bond of this magnitude aims to permit more housing to accommodate the growing number of residents and prevent longtime citizens from being priced out. Adler hopes to put the proposition before voters in November.
Rollins concedes that rent control likely wouldn’t solve the supply-and-demand imbalance if only some cities adopted it.
This is a basic supply and demand issue at it's core, but other factors such as rising property values increasing property taxes are adding to the problem. Rent controls is a terrible idea that will only make the problem of affordable housing worse.
Your 'experts' are just heads of special interest groups.
Dealing with this right now. And GovAbbott and the TexasGOP don’t care one bit.
From a tweet: 'In Texas, if a state agency doesn't spend its yearly budget the agency employees get the surplus as a year end bonus. Welfare workers are incentivized to deny benefits.' Is this true?
I voted for Don Huffines. No property tax. No income tax. Tough on border security. 💪
ONLY OVER 10,000 Homeless Why not add more Nobody cares.
Well that…and inflation…and the rent moratorium for so long. How else did you think they’d recoup the losses?
No mention but a big part of this is rising property taxes. If I was a landlord my renter would be looking at a 250$/M increase.
No kidding we are well on our way to being as expensive as California with none of the cool things they have there😅