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US home prices rise faster than pay of young workers

Thursday, August 20, 2015 - 05:50

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The typical home purchased by first-time buyers cost a median US$140,000 between 2010 and 2013, up from an inflation-adjusted US$87,300 in the 1970s, the study found.

Washington

MANY young workers in the US are finding that home prices are rising faster than their pay, making it harder for them to set aside the cash that they need for the purchase, studies show.

The typical first-time buyer purchases a house that costs 2.6 times his or her

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