Most of those being pushed out are not homeowners, and Texas in general is not nearly as friendly to homeless/drug addicts/other people down on their luck as California is. Austin is better in that regard than the rest of Texas, but still.
What neighborhood of previously existing rental property do you have in mind? Most of Austin's rental capacity was built in the last 15 years. I find Austin's increase in housing supply to be a much more humane alternative to SF's 'market' having lived both places for many years.
