Buzzing boomtown's sudden decline sparks celebrations among bitter families

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Buzzing boomtown's sudden decline sparks celebrations among bitter families

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A former boomtown that exploded in its wealth in recent years appears to be cooling down, with rental prices starting to drop. The city of Austin gained its popularity thanks to its thriving tech and music industries moving into the city, as well as low state taxes that brought on a population boom. After years of rapid growth economically - with a 46 percent increase in GDP from 2018 to 2022 - the average apartment rental price in the Texan city has taken a tumble and its population expansion cooled to just 2.
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