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Tuesday, August 12, 2014

First-Time Buyers Shut Out of Expanding U.S. Home Supply

An inventory crunch for entry-level houses has only worsened during the past year as discounted foreclosures become scarce and cash-paying investors snap up affordable listings to convert to rentals. Properties at the lower end of the market are also the most likely to have underwater mortgages, keeping would-be sellers from moving.

Read more at Bloomberg.

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