https://medium.com/@chrisjeffrieshomelessromantic/poll-70-of-americans-between-the-ages-of-23-and-40-who-want-to-buy-a-home-say-they-cant-afford-07902bcaea6d The dream of homeownership has long been a cornerstone of the American dream. However, for a significant portion of young Americans, this dream remains elusive. A staggering 70 percent of individuals aged 23 to 40 who aspire to buy a home find themselves unable to afford it. This article delves into the root causes of this affordability crisis, exploring economic, societal, and policy factors that contribute to the struggle faced by millennials and Gen Z
I'm in that group. Back in 2019 where I am, putting 20% down at an average interest rate would get you in a modest home for around $1200/mo including taxes and fees. The same house and same down payment percentage costs $3200/mo. The down payment is double now though.
It's literally not possible for me to own a home where I've been living for nearly two decades.
You don't want to put $40k down on a double wide that costs $350k at 7%?