Report brings new perspective to Austin housing market

From Austin Business Journal, December 30, 2008...

While the last two years of declines in new housing activity have been difficult for Central Texas, some housing market indicators show Austin is relatively balanced, according to a report from the Austin Chamber of Commerce.

Residential permits for 2008 will be at their lowest level in decades, at approximately 14,000 units, a total similar to the activity of the late 1990’s. But, according to research the Chamber cites from Residential Strategies Inc., Austin’s “employment change to residential permit ratio”--measured over a nearly two-decade period--is at a healthy 1 single family permit to 2.15 net new jobs.

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