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Level 2

No, a subform can expand, a content area is defined without any possibility to change it (not even with scripting).  Autofit is only applicable to subforms and objects (like TextField) but not to content area.  And that's a good idea, because this is what a content area is supposed to be.

In your case, I guess what you should do is this.  Put a conditional break to assure you have the break after address[2] (3rd has index 2, starting at 0)  When address 4 fits, it would go to the left, unless you force it to go that way.  There is no way to state on instance level where an object should go, only on the object itself.  But, with a conditional break, you can state that item[3] should have a break before, and be moved to the next page/content area.