Home prices rise in Brownsville amid pandemic, report shows
Brownsville has seen significant economic growth during the pandemic, but some experts say as more businesses and jobs hit the city, residents are faced with a lack of affordable housing.
A new report from Texas A&M shows Brownsville home prices rose nearly 60% during the pandemic.
Albert Trevino, a Valley real estate broker, says the high prices are something he hasn't seen in four decades of selling properties.
"My son listed his house for $150,000," Trevino said. "He sold it for $165,000 cash right away. It only lasted maybe 10 days on the market."
But as prices rise, home affordability plummets, hurting those in the working class, said Executive Director of Come Dream Come Build (CDCB) Nick Mitchell.
"We are the most unaffordable— metro area, in Texas," Mitchell said. "Other than Austin."
Experts say the prices are likely due to new and established businesses booming in the city, despite pandemic hurdles.
Watch the video above for the full story.
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