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Rice Kinder Institute report: Homeownership growing from historically affordable to out of reach for many Houston residents

Summary

A new report from Rice University's Kinder Institute reveals that while homeownership is becoming more historically affordable in some areas, it remains out of reach for many Americans. The study highlights that rising housing costs, stagnant wages, and increasing interest rates are major barriers preventing lower and middle-income families from purchasing homes. Additionally, racial and economic disparities persist, exacerbating the affordability crisis. The report calls for comprehensive policy measures to address these issues, including affordable housing development, financial assistance programs, and reforms to mortgage lending practices. These efforts are essential to ensure equitable access to homeownership and stabilize housing markets.

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