Housing Market Leaves 'Avocado Toast Generation' Behind as High Prices and Rates Deter Young Buyers
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An analyst dubbed the 'Oracle of Wall Street' warned the 'avocado toast generation' is missing out on home equity wealth.
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Younger generations have record low homeownership rates, with only 10% of homeowners under 35.
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Mortgage rates are deterring potential homebuyers. Someone who bought a $400k home in 2021 would now pay over $1k more per month.
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Limited housing inventory has kept prices high despite stalled demand. A surge in Boomers downsizing could help ease shortages.
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The key for younger buyers is lower prices. The analyst expects prices to fall in some states like PA, CT, NJ and IL.