Austin, TX
Drop in Texas building permits indicates slowdown, shift
AUSTIN, Texas – At first glance, Austin seems to be in the midst of a building boom, but the boom apparently has lost some of its pop, according to a report by real estate tracking company Point 2 Homes.
Building permits in the Austin metro totaled just over 38,000 in 2023. While that’s a big number, permits are actually down 10 percent. Analyst Doug Ressler spoke to FOX 7 Austin about what’s happening.
“So basically, what we’re seeing is a slowdown, if you will. Couple things. First, slowdown in migration patterns. And the interest rate. The higher mortgage rates are really inhibiting, you know, the building and buying of homes,” said Ressler.
Compared to other metro areas across the nation, most in Texas are doing a better job weathering the current economic storm. Houston and Dallas led the nation in the number of permits in 2023, while Austin came in 5th, edging out the Atlanta metro. Ressler noted the tech industry and business-friendly state policies for providing a buffer.
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The Point 2 Homes report also indicated San Antonio had the biggest permit drop in Texas, by more than 30%. On the upside, several small metro areas saw increases, with the big winners being Sherman, Waco, Midland, and Texarkana.
“I don’t think there’s a bubble. I think what you’ll see is a stabilization, if you will, between supply and demand,” said Ressler.
That begs the question: should a buyer beware or buyer be choosy?
“I think it’s Buyer Be-Wait for the Fed to come out and start dropping the interest rates,” said Ressler.
The mortgage loan rate spike is providing home contractors like Jose Marcano with extra work.
“I think the interest rates are too high, and they want to just pretty much stay in their house, remodeled, and not sell it to go ahead and buy a new one because it will be more expensive for them,” said Marcano.
Inflation and supply chain problems can also make remodeling expensive.
“The prices on materials are too high right now. Even the price of the service to give the service call to the customer are outrageous right now,” said Marcano.
Austin real estate sales pause is not a bust
The Austin Board of Realtors can provide a comparison from a year ago. June 2021 had less than a month of housing inventory.
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The Point 2 Homes report also points to a shift in what’s being built.
In 2023, contractors broke ground on fewer single homes compared to the previous year, but there was a 22% increase in multifamily units. This indicates builders are betting on the rental market, even if interest rates drop by early 2025. And when the market improves, the type of client is also expected to change.
“So, what there is, is this market niche, this growing market in is called build rents, single family rentals. And they’re typically built, in the, what we call the X-urbs, border areas around urban cores and suburbs. And they look like a house, and they rent, and people love them. And so, what we see is that’s a growing market that will absorb what you’re talking about in terms of a lot of the demand that’s pent-up right now, that will be either moving from a interim rental to a buy position over the course of the next ten years,” said Ressler.
State and local leaders should use this downtime to invest in more infrastructure projects, suggested Ressler, and do things like what’s being done around the new Samsung plant in Taylor.
Austin, TX
UT Austin College of Pharmacy Leads Texas in New U.S. News Rankings
U.S. News & World Report released its 2026 rankings for colleges, universities and higher education programs across the United States. The University of Texas at Austin College of Pharmacy ranked No. 8 in the nation and remains the top pharmacy school in Texas.
UT Austin earned a 4.2 on a 1-5 scale. Respondents represented schools and programs offering Doctor of Pharmacy degrees accredited by the Accreditation Council for Pharmacy Education (ACPE).
“As the link between patients and medicine,” says U.S. News & World Report, “pharmacists must be experts on prescription drugs and over-the-counter medications, understanding use, side effects and interactions.” Texas Pharmacy continues to rank among the nation’s best, remaining rigorously competitive among peer institutions.
“Our students, alumni, faculty and staff are proud to be among the leading colleges of pharmacy in the country,” says Samuel M. Poloyac, Pharm.D., Ph.D., dean of The University of Texas at Austin College of Pharmacy and James T. Doluisio Regents Chair. “We strive for excellence and impact as we shape the future of our profession through innovative care for our communities and groundbreaking health discoveries.”
View the Best Pharmacy Schools rankings to see how UT Austin stacks up against its peer institutions.
Austin, TX
Aaliyah Crump plans to transfer from Texas: report
AUSTIN (KXAN) — According to a report by On3Sports, Texas freshman guard Aaliyah Crump will enter the transfer portal.
On3’s Talia Goodman reported Monday that Crump is headed out of Austin, leaving head coach Vic Schaefer without one of the most coveted recruits of the 2025 class.
Crump averaged 17.4 minutes per game over 24 games played this season, missing almost the entire nonconference schedule with a foot injury. She scored 7.9 points per game, with a high of 18 against Texas Southern on Nov. 16, and about one steal per game.
She was one of Texas’ top perimeter shooting threats, making 23 of 73 3-point attempts for 32%.
Crump, a 6-foot-1 guard from Minnetonka, Minnesota, will have three seasons of eligibility left. She was ranked as the No. 5 recruit in her class by ESPN, and she was on the Team USA U16 squad that won gold at the FIBA Americas Championships in 2023.
Aaliyah Moore, who missed the entire season after having surgery on both knees, also intends to transfer from the Longhorns.
Austin, TX
Austin City Council members ask to begin process of renaming Cesar Chavez Street
AUSTIN, Texas — Some members of the Austin City Council are calling on the city manager to develop a plan for renaming Cesar Chavez Street after allegations of sexual abuse came out against the late labor leader earlier this year.
According to a memo on Friday to City Manager T.C. Broadnax, José Velásquez, Vanessa Fuentes, José “Chito” Vela and Zohaib “Zo” Qadri requested Broadnax develop a community outreach plan to gather input and assess the cost to the city, residents and businesses on renaming the street.
“The City of Austin is committed to upholding the dignity and safety of all people and affirms its unwavering support to survivors of sexual violence,” the memo said.
The council members outlined how the outreach plan should be developed and what should be included.
For the development of the plan, council members asked Broadnax to do the following steps:
- Work with the Equity Office, Transportation and Public Works Department, and other appropriate departments as needed.
- Engage Latino Community Leaders, labor unions, City Commissions and residents, businesses, neighborhood associations located on East and West Cesar Chavez Street.
- Assess estimated renaming costs to the city.
- Assess estimated renaming costs to residents and businesses on East and West Cesar Chavez Street.
- Follow additional guidelines provided by the National Association of Latino Elected and Appointed Officials (NALEO).
And the council members said the outreach plan should include:
- A series of hybrid listening sessions with at least two in-person sessions and one virtual session.
- An online survey for the public.
- A stakeholder survey for residents and businesses on East and West Cesar Chavez Street to understand the impacts of renaming the street.
The council members requested that Broadnax come up with a report by May 26 that included a plan, cost estimates and a proposed timeline for the renaming, according to the memo.
César Chávez was known for his work with the farmworker movement and co-founded the National Farm Workers Association, which later became the United Farm Workers of America, with Dolores Huerta. Huerta said she was one of the young women and girls who were groomed and sexually abused by Chávez, which resulted in two pregnancies. She gave birth to the two children and sent them to live with other families.
In her statement, Huerta said she did not know about the other women and girls and that she stayed silent for 60 years because she worried that her coming forward would hurt the farmworker movement.
Other Texas cities have already distanced themselves from Chávez. In Fort Worth, the city removed the street toppers that honored Chávez.
The Cesar E. Chavez Legacy & Educational Foundation — the foundation that hosted the nation’s largest César Chávez march in San Antonio for 29 years — announced it will soon dissolve. The City of San Antonio moved the Cesar Chavez city holiday to Good Friday, and it is requesting the public’s feedback on renaming César E. Chávez Boulevard.
Also, the Texas Education Agency (TEA) has directed all public schools to suspend any instruction or activities related to Chávez.
Chávez died on April 23, 1993, at the age of 66.
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