I certainly haven't seen a softening on either price or demand.

There are plenty of people looking for renters in this area.I will say the market softens up in the fall. 

The market has softened some and I would be hesitant with the claims being made by the builder.  

I have noticed a slight softening in august but nothing to get alarmed about, maybe in a year or two we'll see a buyers market and along with that some solid opportunity for acquisitions.

whats your point you think this will equate to a deep softening in the SFR space ?

Here's a chart of the total number of active SFR listing in Austin over the past 10 years:And the price-point of the median SFR in Austin has gone up, pricing out more and more buyers each year and sending many current homeowners (especially on the East Side) running to the suburbs (actually probably farther out) or into rentals to escape property taxes and/or cash out on the tremendous appreciation:Now, look what's happened to the number of active SFR listings in Austin in the first half of 2017, especially compared to the first halves of the last couple years:Moreover, check out this chart plotting the list-to-sold-price ratio for SFR in Austin over the past 10 years:This last chart speaks most directly to your question about "softening" and price drops on the MLS.

Over the past year, I have seen softening in the high end rental market, but a strong need in affordable and low end market.  

I'm glad you mentioned the tenant listens to the Grateful Dead because I have insight on how to connect with a tenant with those musical interests.I certainly don't know your dynamic with the tenant, but I'm sure if you asked the tenant what his favorite tour year was, he will open up and tell you and also soften up and be easier to work with.

They are also subject to water pressure issues, do not come on if pressure is below 30psi, and the space savings is often lost in having to install a water softener to protect the unit.

It's one of those things that you intellectually "know" but it doesn't soften the impact of seeing a lot of non-renewals coming in.