Poll: 70% of Americans between the ages of 23 and 40 who want to buy a home say they can’t afford to
The dream of homeownership has long been a cornerstone of the American dream. However, for a significant portion of young Americans, this dream remains elusive. A staggering 70 percent of individuals aged 23 to 40 who aspire to buy a home find themselves unable to afford it. This article delves into the root causes of this affordability crisis, exploring economic, societal, and policy factors that contribute to the struggle faced by millennials and Gen Z
The Supply and Demand Conundrum
The Housing Market Landscape
The housing crisis is fundamentally a supply and demand problem. As the demand for housing grows, the supply fails to keep pace. Let’s break down the key factors:
Limited Supply: The availability of affordable housing is constrained due to various reasons:
- Land Use Regulations: Stringent zoning laws and land use regulations restrict the development of new housing…
