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Is There a Cycle in Demand?
The housing market has been in a vicious cycle for the past two years, says CNN's John Sutter. Consumers are getting hurt as prices go up and mortgage rates rise to levels they couldn't afford last year. The price of food is also at an all-time high because people can no longer get deals on things like cars or apartments. This could be bad news for first time homebuyers who may have trouble making ends meet due to rising costs.