Austin, Texas has become one of the least affordable cities in the US in part due to steep housing costs. This week, city lawmakers took a significant step toward helping boost housing supply. The city council approved a resolution that reduces the lot size necessary for a home. Research has found that increasing the market-rate housing supply makes housing more affordable for both middle- and low-income residents, despite widespread skepticism that the laws of supply and demand apply to housing. Last year, a Texas appeals court struck down a previous city council effort to increase housing density through upzoning.

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