In Austin, TX, a planned transit-oriented development went bust. The new developer is taking the density down from 1,200 homes to "plus or minus 700."
The American-Statesman spoke with Eldon Rude, the Austin director of Metrostudy, a provider of housing market information, about the development.
"Rude said that although builders are reporting that activity and sales have picked up in the past three months, "the core of demand for housing in our market is still job growth, and we're having minimal job growth at this point."
"Until we get back to stronger job growth numbers, we won't begin to experience significant increases in housing demand," Rude said."
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