Baby Boomers Struggle with Housing Affordability, Says Realtor.com

A new analysis from Realtor.com reveals that housing affordability was even worse for some Baby Boomers, as homebuyers in 1981 faced 18% mortgage rates. Despite lower home prices at the time, the median household income was significantly lower, making the housing market less affordable compared to today. Mortgage rates play a crucial role in housing affordability, and experts suggest that current conditions won't improve until rates drop, although a significant decrease is unlikely in the near future.