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Austin’s housing market didn’t crash. It repriced. Home values are down roughly 22% from their pandemic peak. More than half of new construction listings are carrying price cuts. Thousands of 2022 buyers are now underwater. But this isn’t 2008. There’s no foreclosure wave. There’s no banking collapse. Instead, something quieter — and arguably more dangerous — is unfolding. A structural equity trap. In this video, we break down: • Why Austin’s 22% decline is a repricing, not a traditional crash • How 2020–2022 migration created permanent financial obligations • Why over 50% of new builds now carry price reductions • How builder incentives are undercutting resale sellers • Why FHA buyers are disproportionately exposed • The long-term implications for homeowners, investors, and the broader Texas market This is video three in our Texas housing investigation series — following the statewide reversal and Houston’s foreclosure surge. The boom was temporary. The obligations are not. This channel provides informational and educational content only. Not financial, legal, or insurance advice. Subscribe to Uncover The Cities for forensic housing analysis without hype. #AustinHousing #HousingMarket2026 #TexasRealEstate #EquityTrap #UncoverTheCities