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The housing market is cooling down but not for a good reason: first-time homebuyers have been priced out

Business Insider
 28 days ago

Cover picture for the articleExisting home sales fell in August, according to the National Association of Realtors. While the market seems to be cooling off, it's partly because prices are too high for many buyers. The median existing home jumped to $356,700 last month, a 14.9% increase from 2020. See more stories on...

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david smith
27d ago

I'll say it again. Give it one generation, two at the most, and only only the wealthiest 10-20% of Americans will own the home they live in. The rest of the population will rent, from huge corporations, homes that, even now, are being bought up as investments. One of the last possibilities for lower income home ownership, mobile home parks, are being bought up and converted to rental parks, or ripped up and sub-divided into single and multi family rental communities. The American dream is dying, or rather, being stolen. The middle class is being phased out. Good bye America.


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