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For many New Yorkers struggling with the cost of housing, the dream of homeownership feels increasingly out of reach. Rising construction expenses, supply chain disruptions and soaring interest rates have pushed the average price of a newly built, modest single-family home in upstate New York to $450,000 or more. That price point locks out many first-time buyers, trapping renters and preventing older New Yorkers from downsizing.

Gov. Kathy Hochul has taken an important step to change that with the launch of Move In NY, a $50 million initiative to expand access to affordable “starter homes” using........

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