Publication Date
9-1-2024
Keywords
inequality, public policy, home ownership, United States
Volume
2024
Abstract
Affording adequate shelter is an important human need, but it is also a significant aspect of the American Dream to be able to own a home. Housing inaccessibility poses a significant challenge for younger generations in America, including Millennials and Generation Z, compared to their parent and grandparent generations such as Baby Boomers and Generation X. This challenge is primarily driven by contributing factors such as wage stagnation, an increased cost of living, and a housing shortage. These factors collectively contribute to consequences including younger individuals being unable to afford homes, exacerbating wealth inequality, and hindering one’s ability to retire comfortably. Furthermore, housing insecurity puts upcoming generations at risk of eviction and homelessness, while also adversely affecting their mental and physical health. To address this issue, improving accessibility to Down Payment Issue Briefs About Contact Assistance programs and Rent-to-Own Programs can provide crucial support, helping younger generations overcome financial barriers and achieve homeownership, thus promoting stability and well-being in their lives and future legacy.
Recommended Citation
Isom, Kendall A.
(2024)
"Home Ownership Inaccessibility for Upcoming Generations in the United States,"
Ballard Brief: Vol. 2024:
Iss.
3, Article 3.
Available at:
https://scholarsarchive.byu.edu/ballardbrief/vol2024/iss3/3