New Study Reveals How Much Young People Have to Struggle to Buy Homes
The New Republic

New Study Reveals How Much Young People Have to Struggle to Buy Homes

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The national median price for a house is now three times higher than the median household income for Americans under 40—an obvious explanation for why nearly all young people say it’s harder for them to buy a home than it was for their parents.A study from the Pew Research Center released Wednesday shows home prices spiking tremendously in the beginning of the 2010s, and median home value rose 30 percent (from $269,600 to $350,000) from 2019 to 2024. This surge occurred at almost three times the pace of median income, which has risen very slowly.Pew also noted that a whopping 89 percent of Americans under 40 think their parents had an easier time buying property—and that 60 percent of metro areas in the U.S. were classified as “unaffordable.”This comes as President Trump canceled the signing of the 21st Century Road to Housing Act on Wednesday—the largest bipartisan housing affordability bill in decades—to pressure Republicans into passing his anti-voting rights SAVE America Act. The housing affordability crisis seems to be on everyone’s list of priorities except the president’s.

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