The New York Times: Here’s who will be left in the housing boom – Ali Wolf

The housing rebound has been fueled by buyers whose wealth allowed them to win bidding wars, often with a high down payment and a bid over asking price. Those living on local incomes, which are often modest compared with those of relocating newcomers, are losing the ability to buy a home as competition grows and prices rise. In the long run, this means some Americans will be able to build wealth in their homes, leaving the rest behind.

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