Sunday 4 March 2012

Home prices divide nation; Soaring cost of buying a house is changing community landscapes, forcing moves to distant suburbs and opening gap between rich and poor.(Main)

Byline: NOELLE KNOX USA Today

Since 2000, the cost of a home has more than doubled in about 30 major metro areas, including New York, Washington, Atlantic City, Las Vegas, Phoenix, Sacramento and San Diego.

And even though the real estate boom peaked last year, there's no end in sight. Nationally, home prices are still climbing and are expected to rise about 5 percent this year. Coupled with higher interest rates, gas prices and property taxes, those prices are creating an affordability crisis that is rippling through communities across the country.

The consequences are reshaping cities and the lives of millions of Americans. They're affecting children, families, schools, hospitals, businesses and …

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