Living
Housing Prices Are Booming in U.S. Cities—Just Not San Francisco or New York
- Low rates, vaccines fuel real estate rebound for urban areas
- Remote work heightens demand in more affordable regions
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Maybe you’ve heard: The pandemic is killing cities, fueling a rush to spacious houses in the suburbs. But beyond pricey New York and San Francisco, real estate demand is booming in downtowns across America.
From Pittsburgh to Detroit and Phoenix, condos and townhouses within stumbling distance of bars and restaurants are hot. Like the families now upgrading to bigger suburban homes, young white-collar workers are taking advantage of record-low mortgage rates and flexible remote-work policies to move to desirable cities with relative affordability.