re: Why does a big home 20 mi from downtown Austin cost as much as one 20 mi from..

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Keep imagining. The lots in ATX are smaller.

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50' lot width minimum. Supply is small in the central neighborhoods in Austin. City council just voted to end the small lost amnesty loophole that was allowing 2 homes on a 5000sq ft lot.
Austin wants affordability but won't allow you to build supply. I'm not saying I want the Houston townhome phenomenon here, but something needs to change. although it's probably too late.