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Stagnant wages, vacant homes are undercutting housing markets, U.S. mayors say

The two biggest villains undercutting housing markets in American cities are stagnant wages and vacant properties, according to a report this week from a coalition of U.S. mayors. “In fast-growing cities, wages lag behind housing costs, leading to a scarcity of affordable housing,” the report from the National League of Cities Housing Task Force states. In cities where the economy is stagnant, abandoned homes are depressing real estate values.
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