Business Daily Home is where the debt is
Sep 24, 2025
The challenges of homeownership in America take center stage as rising prices and high interest rates leave many feeling shut out. First-time buyers share their frustrating journeys in a competitive market. Builders discuss soaring construction costs and the impact of tariffs, while zoning laws complicate affordable housing solutions. A case study in Hoboken highlights local demand, and shifting lending standards shape buyer confidence. Amid this turmoil, a proposed act aims to ease regulations and make housing more accessible for everyone.
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Young Couple's Grueling Home Hunt
- Robert and Megan McKenna toured dozens of houses and lost eight bids before finally buying in suburban Pennsylvania.
- They compromised on wants to win, describing the process as an "emotional roller coaster."
Low Rates Lock Sellers In Place
- Many homeowners bought or refinanced at ~2% and now face ~7% rates, so they avoid selling.
- Low turnover reduces inventory and makes finding homes tougher for buyers.
Market Swings After COVID
- Dean Clark describes rapid post‑COVID swings in housing affordability month to month.
- He notes buyers could afford a million-dollar house one month and not $500,000 the next due to changing rates.