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Homes under construction in the Park Place development in Frisco are likely to carry a higher price tag as the costs of lots, lumber and labor grows.

Jumps in new home development and construction costs have builders worried that their sales prices are outpacing buyer incomes.

Dallas-Fort Worth new home prices in the first quarter hit a record high of $244,113, according to Dallas-based housing analyst Residential Strategies Inc.

And with costs such as building lots, lumber and labor rising rapidly, the outlook is for more price increases in new homes throughout 2013.

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Plans include shuttering Fannie Mae, Freddie Mac.

President Obama hailed both this city’s and the country’s comeback from the housing bust on Tuesday, and said it was now time to reduce the federal role and risk in the mortgage market “to make sure the kind of crisis we went through never happens again.”

He proposed to “wind down” Fannie Mae and Freddie Mac, for the first time outlining his approach to overhauling the two giant mortgage-finance companies that were taken over by the government when they failed nearly five years ago. The companies, which Mr. Obama described in an appearance here as “not really government, but not really private sector,” recently began to repay taxpayers.

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Construction will start soon on an experimental New York housing complex in Manhattan with 55 “micro-sized” apartments, from 250 to 370 square feet each. The prefabricated units, which will rent for $914 to $1,873 per month, aim to help alleviate the city’s shortage of less-pricey studios and one-bedroom apartments. As more urban dwellers live alone, other U.S. cities are considering similar solutions.

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