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Sunday, March 16, 2014

Cost of owning a home is spiking in 2014

Cost of owning a home is spiking in 2014
Source: CNBC

It remains to be seen what will be a greater driver of housing this spring, positive equity that allows more borrowers to move, or weaker affordability that keeps them in place. Some metro regions, especially in California, have seen monthly house payments rise about 50 percent from a year ago, and as cash buyers move out of the market in 2014, the buyers left are not expected to be able to afford the home prices in these markets.

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