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Article: Some potential buyers being pushed out of real estate market.
- Article from:
- York Daily Record (York, PA)
- Article date:
- February 5, 2006
CopyrightCOPYRIGHT 2006 York Daily Record. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Sean Adkins
Feb. 5--The impact is unavoidable.
As interest rates continue to slowly increase, a growing number of potential home buyers will be priced out of the residential real estate market.
Higher rates often lead to increased monthly mortgage payments that some people cannot afford, said Kathleen M. Bryson, education director at the Consumer Credit Counseling Service of Delaware Valley.
"If someone could afford a $200,000 house last year because of the lower rates," she said, "they might only be able afford a $180,000 house this year. It will now take longer to sell a home. There are less people out there buying now."
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