Get Out of My Swamp! Renters Facing Tough Road to Home Ownership

Ogres and Renters Unite

As an ogre living in my beloved swamp I can relate to renters facing obstacles to owning their dream home. After all I had my fair share of challenges when trying to find my happily ever after with Fiona.

Far Far Away From Home Ownership

The New York Federal Reserve survey's results paint a grim picture for renters with only a mere 13.4% holding onto hope of one day affording a home. It seems like the American dream is getting farther and farther away much like how Lord Farquaad kept trying to separate me from Fiona.

Mortgage Rates as High as The Tower

With mortgage rates soaring to an average of 7.22% it's no wonder why 74.2% of renters find obtaining a mortgage to be as challenging as climbing up the tallest tower in Duloc. Looks like we're all in for a rough journey towards home ownership.

Renting Not So Happily Ever After

The outlook for renters isn't any better with survey respondents predicting a 9.7% increase in rental costs over the next year. It's like Donkey said 'Why me? Why do I always gotta get the short end of the stick?'

Fed to the Rescue?

While there's hope for the Fed to lower interest rates the road to affordable housing remains a long and winding one. All we can do is keep pushing forward much like how I never gave up on finding true love.

Inflation Strikes Again

With inflation continuing to play a role in the housing market it's no wonder why renters are feeling the squeeze. Looks like we'll have to rely on some fairy godmother magic to make home ownership dreams come true.