, Columnist
Austin Exposes New York City’s Broken Housing Market
Home prices and rents have now risen more since the pandemic than in the Texas boomtown. That’s a problem.
One byproduct of New York's housing market is an inflation rate that has risen this year even as the national one falls.
Photographer: Alex Kent/AFP/Getty Images
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Here’s something that would have seemed pretty much inconceivable two years ago: According to Zillow, home prices have now risen more in New York City and its environs since the beginning of 2020 than in metropolitan Austin, Texas.
The trajectory looks a bit different for rents but ends up in almost exactly the same place.