Homebuyers are losing out on homes and big deposits as affordability escapes them

Dec 12 2022 by Business Insider

 
People who have put tens of thousands of dollars down on new homes are backing out, and losing their money in the process, NPR reported.

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Many people who put thousands down on new homes canceled their contracts and lost money, per NPR. They told NPR they didn't have a choice because the payments had grown since rates rose. Nationally, new home build cancellations are up nearly 20% from last year. 

This is how unaffordable buying a home has gotten for the average person:...

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