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CNN CNN Newsroom With Fredricka Whitfield June 4, 2024 16:35:00

Are a first-time home buyer because the prices of real estate are high, and now, you know, you re looking at interest rates that have just simply soared. so are you finding that a lot of first-time buyers are simply saying they ll wait to another time or embracing the fact it will cost them more? yeah, unfortunately for first-time home buyers they re having a hard time entering the market. obviously, affordability is a massive constraint with very limited housing inventory in the last year, really dropping on the all-time low recorded since 1999. of course the outside pressures as well. they re facing rising rents, seeing the rising price of goods. saving for a down payment goals to the back burner. so, with that combination, then, what kind of advice do you have for folks? if their rent is high, they can t, you know, set aside money for a down payment, interest rates are high, what kind of advice are you giving? all right. so i ll give you advice, but ....

Interest Rates , Real Estate , Home Buyers , Housing Inventory , Down Payment Goals , Back Burner , Down Payment ,