Potential first-time homebuyers continue to face challenges amid economic uncertainty. While some families wait for rates to drop, others are waiting for home prices to stabilize. Which should matter more?
"Home ownership definitely is still the American dream," said Jeff Ostrowski, an analyst at Bankrate.
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Buying a home is one of the biggest financial decisions one will make in their lifetime, but it's tougher than ever to afford a home these days. The combination of high mortgage rates and record-breaking prices have made the homeowning dream feel unattainable.
"First-time buyers are a much smaller share of the housing market than they normally would be," said Ostrowski. "People are waiting a lot longer to become