re: Why does a big home 20 mi from downtown Austin cost as much as one 20 mi from..

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OTOH 20 mi from Manhattan probably equates to 120 mi from downtown Austin in commute time and cost

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Cost yes. Time, no. The "freeways" in Austin are bad, bad. Actually, the problem is they aren't freeways. There isn't one complete loop and some of the main arteries are street level roads with stoplights.