this bustling market

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Senior Member
Hi everyone! I'm not sure the meaning of the phase "this bustling market " here. Does it mean "the bustling housing market of New York"?

the context is as follows:
And while housing is exploding citywide -- the number of housing permits granted citywide last year exceeded the permits granted in all of the 1990's -- the two boroughs with the most housing starts in this bustling market are Queens and Brooklyn. Why so many homes? Brooklyn's prime appeal is relatively low cost. ...

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