All articles tagged with #homeownership
JPMorgan Chase announced a multi-year, $750 billion plan through 2035 to help 500,000 Americans buy homes and to build or preserve 1 million affordable housing units, including about $200 million for a 342-unit San Francisco project, while ramping up mortgage lending by over 40% and adding 850 Home Lending Advisors as part of its American Dream Initiative.
JPMorgan Chase unveiled a plan to invest $750 billion in housing over the next decade, financing about 1 million affordable housing units and helping 500,000 people buy homes, using debt, equity, and grants, as part of its American Dream Initiative and to push pro-growth housing policies; the bank will also hire 850 home-lending advisers and urge collaboration with other lenders.
The Federal Reserve Bank of Minneapolis introduces the homeowners-to-population ratio (HPOP), counting adults 18+ who own their home rather than homes that are owner-occupied. This yields a national rate of about 53%—well below the traditional 65%—with even steeper gaps for those under 35 (22% vs 37%). The change stems from counting individuals instead of houses and from multi-generational living in which adult children or others reside in owner-occupied homes. State rates drop to roughly California 41%, Hawaii 42–43%, and New York around 43%. The findings suggest the U.S. housing affordability crisis is broader than the standard measure indicates and could influence future housing policy and programs.
The CNN piece argues that the traditional route to wealth—college, work, saving, and buying a home—now increasingly depends on family financial help. With rising costs and debt, many young adults rely on parents for ongoing support, and some households have inherited large sums that jump‑start homeownership or retirement. Fed data show nearly half of adults ages 18–29 received nonresident assistance for recurring expenses, and about as many live with parents, underscoring how access to the “American dream” now hinges on family wealth and support rather than earnings alone.
A study using the 30% of income rule for housing costs finds only Louisiana, Iowa, and Minnesota meet affordability for typical homebuyers; California is among the least affordable. Nationally, median home prices rose above $400,000 in late 2024 and stayed high into 2026, while mortgage rates have remained elevated since 2022, keeping many markets outside the affordability threshold.
A 2025 Realtor.com/Census analysis shows more than 25 million adults under 35 live with their parents, about one in three, the highest on record. The shift stems from housing costs—medians around $430,000 for homes and $1,673 for rent, with mortgage payments rising sharply—which keeps many employed young adults at home to save for a future purchase. First-time buyers remain scarce (a record low share), and marriages are delayed, further boosting two-income or shared-parent-home living as the path to independence becomes harder.
Gen Z is delaying homeownership with a record share of 25- to 34-year-olds living with parents or grandparents—nearly 20%, about 7.5 million people—as entry costs rise, starter homes shrink, and rents have jumped up to about 30% since 2020. Even many employed young adults face a housing-cost hurdle, not just a weak job market, leading economists to expect Gen Z to catch up to prior generations only once conditions improve.
Senate and House leaders announced a bicameral agreement on the bipartisan housing affordability package (the revised 21st Century ROAD to Housing Act), with the Senate set to begin procedural votes and the House planning an expedited vote after the June recess. The package incorporates House language restricting large institutional investors from buying single-family homes, reintroduces several Senate topics with meaningful changes (including a three-year sunset for the CDBG-DR disaster-relief program), and aims to lower costs, increase housing supply, and expand homeownership ahead of year-end priorities. White House backing and prior chamber approvals underscore broad bipartisan support after months of negotiations.
A Simon-Kucher study finds the American dream is being redefined across generations, shifting from a uniform set of milestones to a focus on personal freedom and immediate financial security. Younger adults prioritize daily stability and meaningful experiences, while homeownership remains valued but harder to achieve amid rising costs and job insecurity, making the path to the dream less clear.
A Simon-Kucher study of 5,000 adults shows the traditional American dream is no longer a single blueprint. Gen Z and millennials are redefining it to prioritize personal freedom, immediate financial stability, and meaningful experiences over older milestones like long-term homeownership and retirement, driven by high living costs and job insecurity. Yet most still desire homeownership and value quality of life, signaling a shift from wealth accumulation to daily wellbeing and autonomy.
Young buyers are increasingly relying on parental help to buy homes in 2026, with 40% of homeowners receiving down-payment assistance (up from 35%), led by Gen Z (78%) and millennials (56%). Cash gifts from family commonly range from $25k to $49,999, and about 74% of parents plan to or have already helped, with 29% saying helping is more important than paying for college. This support—typically funded from checking accounts (65%), investments (50%), home equity (35%), and retirement accounts (32%)—helps about 43% qualify for a mortgage and 33% reduce monthly payments.
New homeowners in 2024 spent about 26% of their income on housing vs 20% for longer-tenured owners—a six-point gap dubbed the 'new homeowner penalty' and the widest since 1990—driven by high prices, mortgage rates hovering around 6%+, and rising costs like insurance and taxes. The result is a stubborn affordability crunch for first-time buyers, even with savings and family help; policymakers point to boosting housing supply through streamlined permitting and zoning reforms as the long-term fix, though effects will take time and vary by region.
A National Association of Realtors analysis of Census data finds U.S. homeownership rates differ by occupation: management and business professionals lead at about 72% ownership in 2024, education and social services around 67%, and STEM/technical workers about 67% but dipping since 2014; service workers remain lowest at about 46%, with the national rate near 65%. Local variation is substantial: in 61% of the 368 metros, the occupation most likely to own a home in 2024 differs from 2014, and affordability constraints—medians around five times income—mean many earners are priced out of homeownership.
The Senate passed the 21st Century ROAD to Housing Act 89-10 to expand housing supply via grants, pilots, and streamlined environmental reviews, while prohibiting large institutional buyers from certain single-family homes to boost homeownership. The bill faces an uncertain path in the House, as Trump prioritizes other voting legislation.
Senators Hawley and Merkley unveiled the Homes for American Families Act to bar investment funds with more than $150 million in assets from buying single-family homes, condos, or townhouses, with DOJ antitrust enforcement; the bill aims to ease the housing affordability crunch, excludes homebuilders, and comes as Trump and other lawmakers push to curb big investors in the housing market.