Reports: Too Many Apartments

From Austin Business Journal, May 12, 2008...

Decrease in occupancy, surge in concessions expected as Austin fares worse than most

Austin's apartment market could be heading into troubled waters, two recent reports indicate.
Developers eyeing optimistic job forecasts and tightening restrictions for homebuyers are building an unprecedented number of apartment communities across the area. There are roughly 17,000 new units under construction in and around Austin, all of which will come online over the next 12 months, according to the first-quarter Multifamily Trend Report from Austin Investor Interests LLC.

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Apartment demand expected to remain strong in '08

From the Austin Business Journal December 28, 2007...

A booming Austin economy will keep apartment demand high in 2008, but not high enough to match pace with eager developers who plan to significantly add to the local stock in the coming year.

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