Looks like recession is coming, but maybe not equally in all places.

In my city of Austin, a bunch of housing construction began around 2020, especially downtown.  As it is finishing this year, demand is way down, so it seems Austin is likely to run into a construction bust.

Here it is at least in part due to the influx of Californians during Covid, some of whom are now going elsewhere yet again (or back to California).

That's just one city.  Not sure what factors are at play elsewhere.