Owning a home has been a traditional cornerstone of the American dream. Yet, with inflation and prices skyrocketing much faster than most salaries, growing amounts of people feel the American dream is just that – a dream.
To make matters worse, job loss is becoming more common as various companies downsize or even close certain retail locations altogether. Due to changes in the economy and consumer spending habits, various businesses are laying off their workers.
In light of all this, the popularity of gig jobs, freelance projects, and other forms of independent contracting has grown in recent years. Though as people’s financial situations become less stable, an increasing amount of renters feel they’ll never know what it’s like to own a home.
No hopes for future homeownership?
Days ago, real estate giant Redfin put out a report confirming that rent costs continue skyrocketing nationwide. However, the company also noted that with more housing units under construction, this will eventually lead to less expensive costs for basic living.
