> what they didn't mention is that supply didn't impact rents until the large remigration back out of Austin

This has been studied to death. But just like soybean farmers in Idaho voting for tariffs on China it seems a category of urban renter is more wedded to ideology than self interest.

The Austin metro area's population is up [1][2]. Austin's GDP is up [3]. Migration per se doesn't explain a phenomenon that is robust across cities, countries and centuries.

[1] https://www.macrotrends.net/global-metrics/cities/22926/aust...

[2] https://en.wikipedia.org/wiki/Austin,_Texas#Demographics

[3] https://fred.stlouisfed.org/series/GDPALL48453

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