Red-hot Houston housing market shuts out first-time home buyers, new report says (Culture Map)

Photo Courtesy of Culture Map

Photo Courtesy of Culture Map

By Jennifer Chininis

We Texans like to brag, and one of our favorite topics of late is the booming housting market across the state. But this boom doesn’t come without consequences.

According to a new report from Houston-based Metrostudy, all of this action on the home front has priced first-time buyers out of the new-home market. Builders and developers have shifted their efforts away from entry-level products ($150,000 or less) to “move-up” housing ($300,000 and up).

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