I'd have to say I agree with M1EK's response. Sure building luxury condos isn't the whole solution, but we've already seen more moderately prices developments started (Spring, opposed by my NA (BCNA) and your NA if you live in Barton Hills). I think we'll see more Springs and fewer Nokonahs in the future.
One other thing, that's the median household income, not the average salary. Important point: for many of those households BOTH parents are working. That means their salaries are more like 35k. Plus if they have pre-school kids, they are probably are spending at least 600 a month on day care per kid. A much different scenario than one person making 68k.
Pedantic point: median and average are different measures. Sorry, I work with stats for a living. :)
<i><b>Ed. Note</b> - Thanks for the catch! I've updated the entry with your correction. Thanks for reading and leaving your comment! </i>
Forgot your password?
City of Austin and OpenOffice/Open Source Trials
I'd have to say I agree with M1EK's response. Sure building luxury condos isn't the whole solution, but we've already seen more moderately prices developments started (Spring, opposed by my NA (BCNA) and your NA if you live in Barton Hills). I think we'll see more Springs and fewer Nokonahs in the future.
One other thing, that's the median household income, not the average salary. Important point: for many of those households BOTH parents are working. That means their salaries are more like 35k. Plus if they have pre-school kids, they are probably are spending at least 600 a month on day care per kid. A much different scenario than one person making 68k.
Pedantic point: median and average are different measures. Sorry, I work with stats for a living. :)
<i><b>Ed. Note</b> - Thanks for the catch! I've updated the entry with your correction. Thanks for reading and leaving your comment! </i>