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Why is the number of first-time US homebuyers at a generational low?
(www.theguardian.com)
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this post was submitted on 13 Jul 2025
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United States | News & Politics
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I'm gonna go ahead and say, without reading the article, that stratospheric prices of housing and frozen wages since the early 2000's might be the reason.
But this is just an uneducated guess, I'm probably wrong...
The bank won't approve a $1500 mortgage so I pay $2000 in rent
Hahaha I feel you. I'm paying $1.2k more in rent because I can't get a mortgage approval for less than what I paying now because I allegedly don't make enough. I have a credit score over 800 and could comfortably make the lower mortgage payments, but instead I'm being bled dry. 🫠