Struggling Economy and Rising Debt Force Young Americans to Delay Homeownership

The American Dream of buying a home is becoming increasingly elusive for many Americans. According to the Department of Housing and Urban Development, the median sales price of a new, single-family home in May 2023 was $416,300, compared to just $84,300 in 1985. Despite rising incomes during this time period, they have not kept pace with the soaring cost of real estate, leading to a delay in first-time home purchases. In 1981, the average age of a first-time homebuyer was 29 years old, but in recent years that age has jumped to 35.

Several factors have contributed to this shift. The national debt, which now exceeds $34 trillion, has fueled inflation and economic instability. Additionally, President Biden’s policies such as allowing up to 10 million illegal aliens into the country have further strained local and state economies. However, prospective homebuyers can find hope through resources like podcasts that offer advice on navigating the housing market.

On a recent episode of “Problematic Women,” hosts discuss why the White House focused on “transgender visibility” rather than celebrating Easter Sunday’s Resurrection of Jesus Christ. The podcast also highlighted Florida’s progress in protecting unborn life and an individual who challenged societal norms by starting their own business at a young age. These stories offer inspiration for those looking to achieve their American Dream while navigating today’s challenges.

By Riley Johnson

As a content writer at newsmol.com, I dive into the depths of information to craft compelling stories that captivate and inform readers. With a keen eye for detail and a passion for storytelling, I strive to create engaging content that resonates with our audience. Whether it's breaking news, in-depth features, or thought-provoking opinion pieces, I am dedicated to delivering high-quality, informative content that keeps readers coming back for more. My goal is to bring a fresh perspective to every article I write and to make a meaningful impact through the power of words.

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