Austin’s Wages Went Up and Its Rents Went Down at the Same Time. That Still Isn’t Affordability, and the Reason Is Who Set the Baseline.
Austin added 120,000 housing units over the past decade and watched its rents fall more than 16 percent from their peak. The city is being celebrated as a supply-side model. The workers who still cannot afford it are harder to find in the celebration. Austin’s median rent fell more than 7 percent year over year…
