For generations, Americans have aspired to achieve the American dream of homeownership as an accessible way to build wealth. However, the combination of rising home prices and high mortgage rates have made it more difficult for younger generations to buy a home in the current market.
According to the Mortgage Bankers Association's Purchase Applications Payment Index, homebuyer affordability conditions declined in October 2023. The national median payment applied for by purchase applicants increased to $2,199.
On Cincinnati Edition, we'll discuss the current housing market, what conditions make the best time to buy a home, and what renters can do to build wealth.
Guests:
- Al Rosser, chairman, Greater Cincinnati Realtist Association
- Ken Wilson, senior financial advisor, Northwestern Mutual West Chester-Dayton
Ways to listen to this show:
- Tune in live at noon ET M-F. Call 513-419-7100 or email talk@wvxu.org to have your voice heard on today’s topic.
- Catch the replay on 91.7 WVXU and 88.5 WMUB at 8 p.m. ET M-F.
- Listen on-demand. Audio for this segment will be uploaded to this page by 4 p.m. ET., or subscribe to our podcast.