Aspiring homeowners face challenges in affording a home due to rising living costs, insufficient income, and mortgage rates. Over half struggle to save for down payments. Credit card and student loan debt further hinder the path to homeownership. Individuals must consider long-term financial implications, including repairs and upgrades, to avoid becoming "house poor." Unexpected events and interest rate fluctuations add uncertainty to homeownership timelines. To overcome these challenges, individuals should assess their financial situation, prioritize goals, and plan accordingly.
