Many Seek New Homes Near Cities But Are Priced Out

June 11, 2014

More Americans say they want to ditch suburbia and move near city centers where shopping, dining and entertainment venues are just a short walk away. The problem: Homes in many urban areas remain largely unaffordable for those looking to buy, forcing them to stay in their existing homes or transition from owning to renting, a trend that could depress homeownership rates to as low as 60 percent, according to some experts.

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