The American dream of buying a home has gotten harder
Feel like buying a home is tougher than ever? You're not the only one. The housing market in 2024 hasn't been kind to those looking for a home. Business Insider delves into just how bad the affordability crisis has become.
an affordability crisis
The market has become exceedingly unaffordable in the post-COVID era. The changing characteristics of the typical first-time homebuyer in America are proof of the strain.
THE CASE FOR RENTING
As a result of the housing crisis, many are postponing their plans to buy. Others may abandon dreams of homeownership altogether.
MARKET PREDICTIONS
The housing market's ongoing affordability crisis may not end next year or even in 2026. There are signs that demand and inventory of existing homes are rising.
ANY SOLUTIONS?
A return to widespread housing affordability is not out of reach, say economists. Other experts say the secret to eliminating some of the guesswork out of homebuying might be Down Under.