As home prices soar in unlikely places, the most vulnerable residents pay the price – The Washington Post

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Strong said she and Ferrante made offers on four or five homes. But they couldn’t compete. Finally, the couple found a Cape Cod-style three-bedroom house in Hyde Park, N.Y., located one county east of Ulster. The listing price was $239,000, and the couple paid $250,000. After the seller accepted the offer, he received another bid — this time for $260,000. Fortunately for Strong and Ferrante, it arrived too late.

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