Prices, inflation make buying houses difficult, but possession is still the key to wealth

Prices, inflation make buying houses difficult, but possession is still the key to wealth

  • Home ownership is the key to wealth building, although high prices have made buying difficult.
  • Younger adults have put off buying a home compared to previous generations.
  • Broadening loan criteria and offering down payment assistance can help first-time homebuyers

When Summer Wrenn moved to North Carolina, she had the idea to buy a house.

“I grew up with my mom and her husband and they never had a house and I always dreamed of one,” said Wrenn, 20, who moved from New Jersey in the fall of 2021.

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