Housing Unaffordability Solved? New Austin TAX!

Prices have gotten out of control during the pandemic. The median home price in Austin is 615K while in surrounding Austin areas it is 537K.  Rental rates have also skyrocketed.  The city just released a 350 million affordable housing bond for the November ballot.

This usually works by the city building housing and then subsiding rents to buyers. However, this 350 million is drawn from tax payers dollars. There have already been two similar bonds like this passed in the previous two years.

What do you think, has it helped affordability by raising taxes?  I’m curious if you’re seeing affordability issues in your area? Please comment under my video above.