I am worried that the austin is already over built. Charlie siad that " The city is growing rapidly with over 100 new people moving here every day" that's right, but the area builder delived over 19,000 multifamily units and 9000 single family units in the past 12 month. In the next 12 month, they are scheduled to deliver over 15000 multifamily and 9000 single family units. These add up to over 52,000 new units just in two years. The total net people inflow is about 36500/year and on average 3 people / units, that means Austin can absorb new unit at about 12,000 unit/per year. It will take a while for these units to be absorb by the market. Also, the developers and builder just can't stop. The momentun will keep running for a couple of years, until they realize it is already too late. Then they stop building.
In the past a couple of year during the recession, austin only added a few thousands of units per year, that why the house is on shortage. Now the developer and area builder just over build the house again as they did in 2000 and 2007. It is interest to see Austin real estate market is in a 7 year boom - down cycles. Now is 2014. Next peak will be in 2021.
If anyone think i am wrong, i am glad to hear why. I am not a real estate agent. I am just a small investor, people called a little fish.