Sky-High Home Prices and Rates Put Homeownership Further Out of Reach for Many
• Home prices and mortgage rates are very high, making homebuying unaffordable for many Americans.
• Fannie Mae's CEO believes the American Dream of homeownership is still alive, but it may take people longer to achieve it.
• Fannie Mae is aiming to make the housing market more fair and sustainable, including new ways for renters to build credit.
• The average first-time homebuyer is now 36, much older than the 29 average age in 1981.
• The CEO argues that while homeownership enables wealth building, renting affordably can also allow people to put down roots.