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Rising Rents, Home Prices Shut First-Time Buyers Out of Expensive Markets

Rent price hikes across the country outpaced income growth over the past five years, making it increasingly difficult for renters – particularly those who have never owned a home – to get a foot in the door, a new study says. That has proved particularly true in the San Jose metro area, where rent prices increased about three times faster than wages over the past five years.

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