Is the American Dream Dead? Millions Priced Out of Homeownership
Between skyrocketing mortgage interest rates, record-high home prices, and a limited housing supply, millions are being priced out of the American Dream.
For the first time, the majority of Americans do not believe that buying a house is a wise decision.
Rising Interest Rates
As home prices began to creep up after the initial panic of the COVID-19 pandemic in 2020, interest rates set new lows seemingly every month.
It’s not just materials that have risen, either. Demand for construction labor and services has driven prices up even further.
Expectation of Rising Prices
Even as home affordability continues to get further out of reach, most Americans expect prices to continue to rise over the next year.
Swipe up to Continue Reading!
to learn how to save money and invest!
3 Tips To Get Started In Real Estate Investing
Townhouse vs Duplex vs Condo – 5 Major Differences You Need to Know