As an occasional visitor to the US from England I was surprised by how expensive it's become. The US always used to seem cheaper than England I think largely because the government got out of the way so houses were cheap because you could build them, cars were cheap because you could import them, food was cheap because you could just grow stuff in huge fields whereas in England much of that was restricted. On my trip…
Like the article states, when housing goes up everywhere, it means that even the lowest wage workers need to be paid a lot more to survive, so the reason basic sandwiches are so expensive there is that entry level pay is now about $25/hr.
The other issue you saw, homelessness, is especially concentrated in Austin. Austin is perhaps the most liberal city in deep red Texas, so homeless people flock to Austin because it has good services and a generally sympathetic populace, and some rural conservative locales have even been giving homeless people one way bus tickets to Austin.
I guess the good news is that Austin built a shit ton of housing since 2021-2022, so housing prices (including rentals) are falling faster in Austin than anywhere else in the US.