Its not just one issue that has pushed homeownership at its lowest point in almost 50 years. Here are 6 factors, when you combine them all it makes sense!
- Incomes are starting to increase, but they haven’t matched the rise in housing prices.
- New homes coming on the market aren’t priced or sized for many buyers.
- Foreclosures are still a pervasive problem.
- Unprecedented student loan debt might make it harder to make the leap to homeownership.
- If you don’t have perfect credit, it’s tough to qualify for a mortgage.
- High rents make it harder to save enough for a down payment.
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