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Homeownership Is Now a Pipe Dream , for Most in the United States.
Homeownership Is Now a Pipe Dream , for Most in the United States.
CBS News reports the dream of homeownership in the United States
is just that for many — a dream.
As inflated housing prices have resulted
in a cut-throat market, affordable homes
in America are dwindling. .
Per a recent analysis by the National Association of Realtors (NAR), only around 250,000 homes currently on the market are deemed
affordable for middle-class Americans.
Before the COVID-19 pandemic,
nearly 656,000 homes were available
to middle-income earners.
Experts say the housing trends show homeownership in the United States
"is a signifier of the upper class now.".
Unfortunately, the middle-class dream
of homeownership
has been fading away. , Daryl Fairweather, chief economist at Redfin, via CBS News.
According to Zillow, the average cost to buy a home is at or above $1 million in nearly 500 cities in the United States.
Experts say home prices in the
United States have risen exponentially.
and they aren't stopping any time soon.
Per the S&P Case-Shiller Index,
in the last year, housing prices
in the United States rose 19%.
Experts say this is the sharpest increase the index has shown in over 30 years

housinghomeownershipunited stateswealthinequityaffordable housingmiddle classmarkettrendsupper class