I've been seeing stories like that all over the place. For a long time, places like Austin were scrambling to keep up with all the CA and NY refugees, but now they seem to be realizing that too many projects were started than were going to be profitable. 

Undisciplined

econ

The Fed-Enabled Apartment Bubble Is Unraveling

We've all been watching the high rises getting built in Austin wondering who is going to fill them knowing several other recently built complexes are half empty.

One project decided to only build [half the stories it originally planned to](https://www.statesman.com/story/business/real-estate/2023/04/27/wilson-tower-austin-tx-real-estate-proposed-plans-scaled-back-texas-tallest-building/70152047007/).