Mortgage rates above 7% further exacerbate the nation’s affordability crisis, with many would-be buyers staying on the sidelines.
Mortgage rates above 7% are further exacerbating the nation’s affordability crisis with many would-be buyers forced to the sidelines.
This is the main reason millennials are lagging behind their parents' generation when it comes to buying a home. Last year, fewer than"It’s a tragedy… We pulled the ladder up just as millennials were coming of home-buying age," Kelman said. "Thirty years ago baby boomers owned more than 20% of US national wealth, whereas millennials own less than 10% today.", making it more expensive for potential buyers to purchase a home.
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