Economy

Changing Spending and Saving Habits as Buying a House Remains Out of Reach

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Would-be home buyers are giving up on the housing market and finding other ways to use the money they had been saving.

With mortgage rates near 8% and average home prices hitting record highs, sales of existing homes were down 15.4% year-over-year in September, according to the National Association of Realtors. 

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