Homeownership Increasingly Viewed as Unattainable for Many Americans

Recent polls reveal a growing belief among Americans, especially renters and younger generations, that owning a home is becoming a distant dream due to economic barriers.

• A majority of renters fear they will never be able to afford a home, with high interest rates and low housing inventory exacerbating the issue.
• Homeownership is now seen as an upper-class aspiration, particularly among Generation Z, with economic conditions over the last 15 years making it difficult for many to buy.
• Despite a desire to own homes, 61% of renters worry about their ability to purchase, and 72% say they would need financial gifts or inheritance to do so.
• The racial homeownership gap remains significant, with white Americans nearly 30% more likely to own homes than Black Americans.
• Creative financing methods, such as crowdfunding or rent-to-own, are being considered as potential solutions to the homebuying crisis.

3 Articles

The Hill The Guardian Newsweek