Struggling Economy and Rising Debt Force Young Americans to Delay Homeownership

The Rising Costs of the American Dream: Delayed Homeownership and Navigating the Housing Market

Buying a home has long been considered a symbol of the American dream, but many Americans are struggling to achieve it. According to the Department of Housing and Urban Development, the median sales price of a new, single-family home was $416,300 in May 2023, compared to just $84,300 in 1985. Despite rising incomes over this time period, they have not kept pace with the soaring cost of real estate. This has led to more Americans purchasing homes later in life – on average, first-time homebuyers were 29 years old in 1981 but have since risen to 35 years old.

There are several factors contributing to this shift. Economic instability and inflation have been exacerbated by the national debt, which now exceeds $34 trillion. Additionally, the Biden administration’s policies, such as allowing as many as 10 million illegal aliens into the country, have put further strain on local and state economies. However, prospective homebuyers can find hope in recent stories shared on the “Problematic Women” podcast that offer advice for navigating the housing market.

On a recent episode of the podcast, hosts discussed why the White House focused on “transgender visibility” rather than celebrating Easter Sunday’s Resurrection of Jesus Christ. Additionally, Florida made strides in protecting unborn life and there was also a “Problematic Woman of the Week” showcased on the podcast – individuals who challenge societal norms and expectations.

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