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There’s a stark disconnect between homes prices and what folks can realistically afford in these markets.
Over the past four years, home affordability in the U.S. has rapidly deteriorated. A combination of home price growth, increases in mortgage rates, and income gains that have failed to keep pace has made it significantly harder for Americans to enter the housing market. What was once a challenge in many markets has become largely an impossibility (without some form of assistance) as borrowing…
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