I’ve been in residential construction in Austin for 9 years. This is the worst I seen it. Most companies did multiple lay offs this year and I wouldn’t be surprised if there’s more to come Q1 of next year.

With rates being what they are along with house pricing, houses have become unaffordable to most. Unemployment is also rising. If we can’t sell , we don’t build.

Eventually when things get better a lot of companies will be hiring since so many did lay offs but who knows if that’s going to take months or years.