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Housing Crisis and the Case for Homeownership | Real Estate News
The economy’s in a slump, with weak job growth, falling spending, and wages lagging behind soaring prices — hitting different groups unevenly. Housing woes are at the heart of it: years of stalled construction have created a shortage that’s driving up existing home prices above new ones — backwards for the market. A new housing bill, the first major one in decades, offers incentives to boost supply but won’t fix things overnight. Yet industry leaders still urge buying property — calling mortgage payments “forced savings” that build equity over time, unlike renting. For younger buyers facing…
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