The mayor of Austin Texas is looking to put forward a bond that could be as much as $500 million to deal with housing affordability according to Bloomberg
Mayor Adler said in an interview…
- “That’s our existential challenge right now…Austin is building more homes per capita than any other city in the country, and it’s still not enough.”
Well, keep building. What kind of defeatist attitude is this? Just keep building. Isn’t that what a housing bond is inevitably going to do anyway? The mayor’s goal is to seek voter approval for the bond during the November election which means Austin won’t see any actual forward momentum for at least 10 months. And who knows? After 10 months of aggressive building and a natural slowdown in the housing market, you might not even need the bond anymore.
