Freddie Mac: It’s hard for young people to buy a home

Falling squarely in the “tell us something we don’t already know department” Freddie Mac issued a report stating that since home prices are rising faster than incomes, young adults are having a difficult time affording a home. However, a few eyebrows were raised when the report concluded that it may be until 2025 until the situation improves significantly.

The current rate of home ownership for those under 35 is down 8 percent from its peak in 2004. In addition to high home prices the report also cited lower marriage and fertility rates, borrowing constraints and student debt as other contribuinting factors.

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