Part 5/10:
The current affordability crisis is unprecedented. Mortgage rates hover around 7%, and median home prices have risen by 45% since 2020, causing monthly payments to soar by 52% year-over-year. These figures underscore a harsh reality: an entire generation is being priced out of homeownership. In stark contrast to previous housing crises, today’s issues are compounded by a fundamental shift in affordability, further intensified by rising costs of materials and labor.