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The ability to buy a home has become increasingly difficult in the US in recent years, and some experts are concerned about the long-term influence on young adults, who currently have more climbing hills to achieve American dream than previous generations.
“Growing interest rates, inflated houses’ prices and standing salaries force many into a lifelong rental cycle, where the construction of capital is increasingly felt out of reach,” he said real estate Investor Lori Graymont. “Without strategic shifts, we watch the whole generation come out of American dream.”
It is much harder to buy a home in the US than before. This is some experts concerned about American young adults. (Tammy Ljungblad/Kansas City Star/Tribune News Service via Getty Images/Getty Images)
Dr. David Phelps, a financial expert and founder of the founder of the real estate community, told Fox Business that, although some people claimed precisely.
“Gen Z is correct – directing has absolutely become inaccessible to a significant part of our population, especially that generation,” Phelps said. “The salaries did not continue with inflation Or the cost of the house that rapidly increases, which is before the growing interest rates at all and tighten the insurance guidelines. “
Existing house sales fall to the lowest level in almost 30 years
Phelps said that based on an average salary in the US, a house buyer can afford a home that costs $ 110,928, which is a fraction of the middle house of $ 420,400 today.
“In other words, it’s not just a matter of washing coffee at home and skipping Avocado toast,” he said. “Mathematics does not work for Gen Z.”
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Tom Spaeth, owner of Easal Properties, said that in the last 10 years the supply of homes that young families on a middle revenue can afford to buy from 50% of the available homes available at only 15% as home prices and Mortgage interest rates resurrected.
Trump wants to repair the crisis of the accessibility of the living space: what will it be necessary
He said this happened “as long as the large institutional investors buy a record number of homes, forcing young families to rent in lower qualities, impaired the education of their children, increasing the financial stress of the family and creating the instability of the living space.”
Achieving American dream of recent years is becoming more and more difficult. (Photographer: David Ryder / Bloomberg via Getty Images / Getty Images)
Psychotherapist and author Jonathan Alpert says that the apartment accessibility crisis is not only an economy – it also requires a serious psychological tribute to young adults.
“Many gene Zers experience anxiety, frustration and feelings of failure as they fight to achieve what previous generations considered the rite of passing,” Alpert said. “The possession of the house has long been related to stability and success, so when it feels out of reach, it can lead to doubt itself and the feeling of” stuck “in life.”
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Alpert says he hopes that, as economic conditions change, they will open.
“Meanwhile,” he said Fox job. “The resistance, adaptability and change of narratives around this topic are crucial to the movement of these challenges.”
