As home prices soar in unlikely places, the most vulnerable residents pay the price

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.