The crash is starting to hit even Austin, TX. Construction slowdown coming. I have my sources (fluently bilingual here).
These are the top ten metro housing markets in the country for building Permits year to date for 2024:
Dallas/Ft Worth 25M
Houston 23M
NYC 22M
Phoenix 17M
Atlanta 14M
Austin 10M
Tampa 8M
Charlotte 8M
WA DC 8m
LA 7M
Austin is only down 4% in comparison to 2023.
Dallas, Houston, Tampa, Atlanta, DC and NYC are all UP in permits in comparison to 2023.
NYC is up 61%. I suspect that is a lot of office space getting converted to apartments.