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The progress of the automobile industry negatively impacted the real estate market due to changing transportation preferences and urban development patterns.
True
The progress of the automobile industry had a negative effect on the growth of the real estate market. As car ownership increased, it led to the development of suburbs and decreased the demand for constructing new streetcar lines, impacting urban development patterns. The emergence of automobile culture changed transportation preferences and affected the economy, leading to changes in the real estate market.