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| Economy |
| America's new housing crisis turns the US into a nation of renters |
| 2025-11-12 |
| [MAIL] Only 2.5 percent of US homes changed hands between January and August 2025, according to Redfin. That is just 25 per 1,000 and is the lowest in at least 30 years. During the 2021 pandemic boom, that figure was closer to 40 per 1,000. Existing-home sales in 2024 fell to the lowest since 1995, even as prices continued climbing — the national median home price hit $407,500, up nearly 5 percent year-on-year. Experts say such high home prices, mortgage rates near 6 percent, and inflated grocery and living costs mean many Americans cannot afford homeownership. Another big issue is that homes are increasingly owned by large scale investors who buy them up in bulk to rent out. Real estate agent Glennda Baker told the Raising America podcast that big investors are 'renting back the American dream,' noting that corporations now own 27 percent of the Atlanta housing market. 'They're telling you that you want to be a renter — that you don't want to deal with maintenance or ownership,' Baker said. |
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