BG Note | News - What We're Reading (July 21, 2017)
FORBES: Austin is second-most overvalued housing market in the nation (KXAN) Link to Story
"The city of Austin has the second most overvalued housing market, Forbes reports. According to data from Fitch Ratings, Forbes reports the Austin market is overvalued by 17 percent with a median value of $286,400. Austin is second to San Antonio which Fitch shows is overvalued by 18.6 percent with a median value of $202,600. The valuations are worse than in Las Vegas, Phoenix, or Portland, Oregon."
Austin leader likely headed south for top job in San Marcos (Austin Business Journal) Link to Story
"Bert Lumbreras, an assistant city manager in Austin, has been named lone finalist to become the next city manager of San Marcos. Among his responsibilities in Austin are the aviation, housing, development services, planning and zoning and watershed protection departments..."
Labor shortages, construction costs make it tough to build affordable homes in Austin (Austin Monitor) Link to Story
"The rising cost of construction has made it harder to build affordable homes in Central Austin, housing analysts said after the Home Builders Association of Greater Austin released its midyear housing forecast Thursday. Researchers expressed general optimism about the growth Austin has seen for years but said labor shortages, increased construction costs and permitting regulations have all made it tougher for builders to construct new affordable homes, specifically homes priced at or below $300,000."
B-cycle Is Expanding. So Why Are All The New Stations Near Downtown? (KUT) Link to Story
"B-cycle, Austin’s bike-share system, recently added three new stations as part of an 18-station expansion over the next 18 months. All the new stations will be close to or in downtown, adding to the company’s existing 51 docks."