Mayor Wynn, as quoted by News 8 Austin yesterday (access video here):
Obviously, the more supply we have, and if demand stays the same or grows less than the supply, then prices will come down a little bit.
He was talking about hotel rooms rather than houses, but it's good to get confirmation that he understands the principles of supply and demand. (He had a sheepish grin as he said this, almost as if he expects those words to be quoted back to him someday.)
Really, I've never thought he was an idiot, or that the Councilmembers' anti-supply bias on housing was the result of ignorance. They're just intimidated by the NA groups.
