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This housing price spike is different

from CityLab

Housing prices are cooking. Across the nation, the price of homes is rising faster than the rate of inflation—in some places by a factor of three. That's true of high-cost cities and lower-cost cities such as Charlotte and Tampa alike. And the overheated market for homes is costing the middle class the American dream. Nationwide, the price for homes is approaching the zenith seen in 2006, just before the market fell into a foreclosure crisis and the economy sank into the Great Recession. But there are key differences between the housing peak in 2006 and the housing peak today. more


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