Austin, David Glenn, Travis County discussed on Todd and Don
One hundred six thousand dollars to qualify for the median house in Austin. Yeah. So for that medium price, you gotta have at least one hundred six thousand dollar down payment in Austin. We see typically the numbers are higher than a lot of other metros if as a whole has the highest number of priced out families statewide at eleven thousand this is pretty consistent with what we've seen over the past six or seven years of this report coming out hovers around people. Yeah. Glen, David Glenn with the greater Austin home builder's association. You know, you Todd you've got a a son who's recently married starting out his his life. He's got a new career new job a good paying job understand. What what what's he thinking about? Futures FARs living as far does he even consider buying a home crosses mind? I'm sure he's thinking about buying a home. They get an apartment there in south west Parkway. Close to his job. But we talk to David Glenn with a greater Austin homebuilders association about some of the factors that play a role in home prices in values, some of the factors value to continue to rise as Austin's courses today a place to live work. We have noticed that incomes are not creasing proportionately with the house, increasing. I think that factor is about three and a half times the house. Increasing house is increasing about three times income there are other factors to that that somebody can control things he can't control. So for example, a trade war with Canada or Mexico affects both president materials like lumber. And also the duty to have Margaret workers come and actually help build these homes things like interest rates, increasing with the feds that affects home. But then there are things that cities can't control like regulations, you know, the process process to build a house the time it takes to get a house approved and permanent proves we can actually begin construct. You know, like Austin, we often see what are getting intended regulations kind of tacked on piece by piece, and what we what we end up with the Whitney of regulations that are just really burdensome and in in in really unwieldy, and it's very difficult to navigate that regulatory environment. It's the densify thousand cuts type scenario where you know, a little regulation here a little -regulation their amount to a very complex code, which is what we have today. Do you go now code next is actually coming back? Oh, boy, there's something we heard from a couple of city council folks in transportation planners, and others and home builders that code next kind of flopped over the past year and the city council just kind of gave up, but they do want to rewrite all of our codes and restrictions for building anything in the city. The city of Austin is about to go through its second attempt to adjusting it landed on the code issue. Of course. Current code hasn't been updated almost thirty five years and the city took a swing at it about two years and ultimately failed mid June. And so with the new city manager in place in a new city council place. I think that there's one more energy behind the second code rewrites demand. You're of course, is designing the program and we're expecting him to reveal that for the next few weeks. We've been working closely with that office and some books on capitol pep them for that process. It's not easy to fifteen hundred page documents. But we think that allowing for more density in a in a smart way. And responsible way is gonna ultimately be one way that we can we can keep more affordable in Austin, we need to try and denser taller and trying to build more affordably from top to bottom. Whether that's, you know, land prices or regulation the dog. It's all connected. So we have to be really thoughtful. Yeah. So the goal is to build more dense living higher taller down. Town closer to the core city. So that you don't need a car and your stacked on top of people. That's the only way we're going to be able to make things more affordable. Pretty interesting red fin spotlights Rosedale riverside at northwest. Austin is some of the hottest neighborhoods for the Austin metro as we hit it at twenty one thousand nine and Glen says those that are priced out the families that are priced out of driving to the north of the south for homes, noting that Williamson in Hays counties rates are growing faster than Travis county for the first time in a while back permit quarterly permit reports Kensington. Yeah, you can kind of get a feel for where the growth is happening. And of course, whenever the use of aging that comes on line. You see a spike in those permit as begin construction. Typically, the more active cities are cedar park Leander area up in the north west. We're seeing a lot more gross out in a manner east of Austin. And I think the next big area. That's that will be coming soon is kind of south east part Dell valley area, of course, for the first time in a very long time. We've noticed that Williamson county and Hays county. Both growing at a rate faster than Travis county. So that's a really good indicator that we're seeing we're still seeing a lot of migration into this area, not necessarily an Austin, proper or even in the Travis county, but in the surrounding communities north and south of us there you go. So that's Glenn Glenn, David David, Glenn rather from the greater Austin home builder's association talking about code next that did not pass the first time. Nobody knew what the hell it was. But I'm trying to figure out how will the Austin? How did they get the and I'm not wanting this to pass? But how did they expect to get the Austin voter to be interested in this and to give a rip about who out there, the average voters going we really need to change the city codes here, we really do. I mean, I can understand peace ahead of most people. Sure, but not only over the heads. But who's gonna want it who's going to want that who's going to who could they want? What they don't even know what it is. Well, yeah, I got you. But, but even if they did know what it was who is thinking we've really got to change the. Roads, we got to change the way that things are built where they're built why they're built who is thinking about that other than other than anybody that will benefit financially firm it somehow six forty five traffic. Here's don. We do have a pretty bad wreck right now on southbound thirty five around McNeil, and that's backing things up past fourteen. Thirty one not a great way to start out the morning commute coming in from Georgetown around rock that is for sure typical as building elsewhere on your major thoroughfares right now. And a few other Rex to talk about we have one it's a cherry road, the southbound service road, a thirty five another one burn it at the northbound service wrote a one eighty three new one is popped up. This going to be FM may twelve at the northbound service road at one thirty and FM nine seventy three at eight twelve erector is well, Don proud with Austin's on town traffic.