Buying a home is part of the American dream. While housing affordability has been an issue for decades, 3 in 4 Americans believe homeownership is a good financial decision. But for non-homeowners, buying a home is increasingly further out of financial reach for many.
Home prices increased by 16.2 percent from 2020 to 2021. The median home price increased by 416 percent from 1980 to 2020. Gen Zers are already reporting concerns they won’t have enough for a down payment when it’s time to buy a home – nor will they have good enough credit.
But now there’s a new trend popping up: Buying your first home with your besties. Would you ever buy a house with friends or a roommate?
This blog was originally posted on DebtWave.org. You can read the full post here