Will Wildfire Displaced Flood Rental Market?
Bastrop County residents take stock of their losses this week. Photo by Jeff Heimsath for KUT NewsAudio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.
In this week’s Austin Business Journal, Cody Lyon reports that thousands of residents displaced by wildfires may soon be flooding the already-tight Central Texas rental market.
“Not much rental housing has been built during the past two years due to the recession, leaving only about 4 percent of units vacant. That scarcity doesn’t bode well for the newly homeless. Many call the situation dire,” he reports.
Many residents will receive state and federal disaster aid. Agencies and even The Austin Board of Realtors are working with property owners to find available apartments and houses for short-term and longer rental.
Click on the player to hear KUT’s Emily Donahue’s interview with Lyon.
