Washington, DC CNN —Americans are living through one of the toughest housing markets in recent memory.
Home prices are rising faster than wages, mortgage rates are still hovering near 23-year highs and many Boomers across the country are refusing to sell their homes.
The National Association of Realtors’ affordability index — which takes into account mortgage rates, family incomes and home prices — has been hovering near decades-lows.
Homeownership is arguably a key part of the so-called American Dream, but for young people, it might be just that — a dream.
We’d like to know how Americans younger than 31 are planning for their future given that it has become so unaffordable to own a home nowadays.
Organizations:
DC CNN, Boomers, National Association of Realtors
Locations:
Washington