Austin was one of the top three appreciating markets in 2021 with an average of 33.8% appreciation and more than 50% since the pandemic began.

We are now seeing average pay packages at, or below, pre-pandemic levels. 

Because we were one of the top 2 highest appreciating markets during the pandemic and #1 in appreciation for the past 30-year timeframe.

I sleep well at night, even during a pandemic, not having to worry about making a payment to a lender should a few go vacant all at once.Also, @JD Martin is not wrong in his posts.

Local jurisdictions can and have implemented tighter controls, esp. during the pandemic.  

While this figure will rise as additional deals signed near the end of the quarter are discovered, leasing activity has cooled noticeably over the past year, with trailing four-quarter leasing activity falling to 241 million SF, its lowest level since 2020 and nearly 20% below the average recorded during the five-year period preceding the pandemic (2015-2019).Other factors contributing to the pullback in leasing activity include a more-challenging operating environment, a lack of available labor, and a rise in uncertainty surrounding the outlook for consumption.

I'm figuring we could buy something, for now, with the hopes of at least breaking even, then when the pandemic is over, we can start to make money with more occupancy. 

Our no state income tax, endless summer (especially during the pandemic!)

Quote from @Barry Ruby: @Jay HinrichsCongratulations on your success and thank you for the information on your market and development performance Thanks Barry its turning out real nice its been wild building through the pandemic with supply chain issues and wild price swings ( lumber) and then the rates doing what they were doing..

I had a couple STRs in the Cochella Valley and it did great because I bought before Post Pandemic pricing and locked in low interest rates.