re: Current Housing Prices

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Also can someone answer this…how are people affording these crazy prices when most people are not making that much more to keep up with costs?

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Being in Alabama, I wonder how much of it is people from higher cost areas moving southwards where their money goes farther. I've been told my friends in real estate this is a minor part of it, but it's just hard to see this many people suddenly needing housing when interest rates have been low for so long.