As Austin continues to grow, affordability also continues to be a problem.
Austin, currently experiencing rapid growth due to what many would call sudden prosperity, can almost inarguably be considered a boomtown. In a special live documentary broadcast, KVUE explored that topic in depth, from the past, to the present and even into the future.
As a boomtown, Austin is tasked with attempting to solve its unaffordability problem. KVUE took a deeper look at that problem.
How do property appraisers determine your home's value? What can you do to build a strong case if you think they're wrong?
For all the good that comes with Austin's growth, there is an equal amount of worry. Demand makes property values rise, which is good for your investment, but it also makes property taxes go up and up.
Since 2003, Austin's economic development policy has pushed for ways to help the city grow and diversify its business sector. Part of that includes offering incentives to big companies. But there hasn't been a focus on smaller, locally owned businesses – that could be changing.
Eighty-five percent of business owners in Central Texas said Austin has an affordability crisis. These are real issues, likely facing some of your favorite iconic Austin restaurants, retailers and businesses.
Decreasing diversity and economic segregation are the side effects of Austin's affordability crisis; fueled by gentrification. While it may seem this problem is getting worse, it's certainly not new.