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Housing Crisis Hits Young Buyers | Fort Wayne News
New home sales plummeted last month, down over ten percent from June despite more inventory—yet the average price ticked up four percent. But this barely scratches the surface: existing home sales are steadier but still sluggish, and the bigger problem? Mortgage rates hover near six percent while prices have soared 54% since 2020—way outpacing wage growth. Young buyers are getting crushed, with median home affordability now requiring over $120K in annual income—a massive leap from just five years ago. Monthly payments (including taxes and insurance) now exceed $3,000, pushing Gen Z and…
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