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Housing Affordability Crisis Deepens | Raleigh News
Mortgage rates stuck at 6.5% are crushing homebuyer dreams, making housing unaffordable even as prices hit record highs. Fewer homes hit the market as sellers cling to low-rate deals, while buyers freeze — all fueled by inflation and economic anxiety. The result? A generational shift: millennials may own homes at lower rates than their parents, reshaping financial behavior and widening wealth gaps. That same starter home now costs nearly $500 more a month — up to $1,000+ for pricier homes — compared to just a few years ago when rates were 3%. Homeownership is becoming a luxury fewer can…
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