"A combination of stubbornly high mortgage rates and stubbornly high prices has put homeownership out of reach for a large majority of households along the costly coasts," says Realtor.com® senior economist Ralph McLaughlin.
"To even start to consider a home [here], you have to have an income of almost $250,000 per year," he says. "And that's just to get yourself in the front door, so to speak."
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