Americans are living through one of the toughest housing markets in recent memory. It’s even tougher for young people who need to save up for a down payment, build up their credit score and jump through various other hoops before owning a home.
Home prices are rising faster than wages, mortgage rates are still hovering near 23-year highs and many Boomers across the country are refusing to sell their homes. The National Association of Realtors’ affordability index — which takes into account mortgage rates, family incomes and home prices — has been hovering near
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