Connecticut's wealthy hedge-fund haven, home to Shonda Rhimes and the billionaire owner of the Mets, is losing federal 'high-cost' housing status after its home price gains lagged the US

Dec 10 2022 by Business Insider

 
A polo tournament in Fairfield, Connecticut, which is losing its high-cost home-price designation because prices haven't risen as fast as prices in the rest of the country.

Spencer Platt / Getty Images

Fairfield County, Connecticut, is a ritzy NYC suburb known for hedge funds and shoreline mansions. The government cut it from a list of "high-cost areas" that helps homebuyers get larger mortgages.Housing expert Jonathan Miller, who lives there, was "taken aback" by the designation change.

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Continue Reading Connecticut's wealthy hedge-fund haven, home to Shonda Rhimes and the billionaire owner of the Mets, is losing federal 'high-cost' housing status after its home price gains lagged the US