Bill Morris on Austin Real Estate

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The inventory shortage is a national issue

I have written a lot in recent months about the shortage of homes for sale in the Austin area, most recently in The Austin boom continues …. I also noted in Home price increases … it’s not just us that the price escalation that is driven by that shortage is not unique to Austin and Central Texas. This article from Inman outlines this as a problem across the United States:

What’s driving the real estate inventory crisis? These 5 trends

Inman also forecasts that changing the situation will be difficult but offers some important recommendations. I agree with the recommendations, and I suggest that this is our “new normal,” maybe for a long time to come.