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New Bedford’s Homeownership Crisis | New Bedford News
Home prices in New Bedford have skyrocketed, forcing buyers to earn nearly double what they did just a few years ago—now needing $111,000 annually to afford a modest home. Once common entry-level homes under $400K are vanishing, leaving renters discouraged and middle-income families stuck. Only 16% of households can afford a typical mortgage, and while down payment assistance programs helped hundreds, they’re now restricted due to overwhelming demand. Experts agree: building more homes is the only real fix to bring affordability back and keep people rooted in their communities. Listen in…
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