Housing gains highlight economic divide

Scranton, Pa., has seen people come back from more prosperous areas because they can’t afford homes there. /PHOTO: JOHN GREIM/GETTY IMAGES
Scranton, Pa., has seen people come back from more prosperous areas because they can’t afford homes there. /PHOTO: JOHN GREIM/GETTY IMAGES

Coastal areas see home values surge while rural regions miss out on the boom

By Laura Kusisto | The Wall Street Journal

The volatile housing market of the past 15 years is widening the divide between pricey urban and coastal areas and more affordable inland regions, creating large swaths of winners and losers based largely on geography.

Average U.S. home prices rose 5.6% in the 12 months through October, according to the S&P CoreLogic Case-Shiller National Home Price Index, which covers some of the U.S.’s largest metropolitan areas.

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