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Americans Burdened by Increasing Housing Costs, Slow Wage Gains

  • Affordability metric broken in most major U.S. housing markets
  • Housing costs exceed income gains - further straining budgets
Homes in San Jose, California.

Homes in San Jose, California.

Photographer: David Paul Morris/Bloomberg

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$500 more, each and every month.

That’s the additional cost of a mortgage payment if you bought a median-priced home in San Jose, California, in the first quarter of 2018 compared to late last year. The mortgage payment would be about $4,600 compared to $4,100 due to higher lending rates and increasing home prices.