Tuesday, July 27, 2021
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Higher prices squeezing both renters and would-be homeowners

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A diminished supply of available homes is swelling prices in large U.S. metro areas from Tampa to New York to Miami to Los Angeles, squeezing out would-be buyers and pushing up rents as more people are forced to remain tenants. The trend is pressuring Americans’ budgets, with about one-third of households spending more than 30 percent of their gross income on housing as of 2015, according to a report being released Friday by Harvard University’s Joint Center for Housing Studies.