Gen Z will never afford homes. With 30-year fixed mortgage rates hitting a staggering 7.5%, and home prices soaring beyond the 2006 housing bubble peak, the American Dream is dead for many. Even in the most affordable states, households need over $100,000 annually, while in Hawaii, California, and Massachusetts, it’s over $240,000. It’s a stark reminder of the inequality and broken promises plaguing our society.
It’s official:
Gen Z will never be able to afford homes.
30yr fixed mortgage rates just hit 7.5%
Home price to median household income level is now much higher than the peak housing bubble in 2006
With housing costs and these rates at highs, Is there any hope left for Gen Z? pic.twitter.com/mCNC5KQLad
— Saiyan Finance (@SaiyanFinance) April 17, 2024
"I am 30 years old"
"I'm unemployed"
"I'm living off the very END of my savings"
"I have no 401k"
"I'm so not where I thought I would be at 30 years old"
"I have a very small ROTH IRA"
"I have no desire to get married or have kids"
Is the younger generation completely… pic.twitter.com/ngywoebuRD
— Wall Street Mav (@WallStreetMav) April 16, 2024
Is The American Dream Dead?
From CNBC:
– ALL 50 states require more than a $100,000 annual income
– 38 states needing more than $140,000– The most affordable states, Mississippi, Arkansas, and Kentucky, need between $109,000 and $117,000
– The median income for a household… pic.twitter.com/BItW7dBCeK
— Wall Street Apes (@WallStreetApes) April 17, 2024
The Declining Value of the U.S. Dollar pic.twitter.com/AIKDvjdRKy
— Barchart (@Barchart) April 17, 2024