November 1, 2022

By Amanda Jacobson Snyder, Morning Consult

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Housing experts say persistent supply issues may continue to drive prices beyond the reach of many

  • Among adults who could potentially purchase a home in the coming years, roughly 1 in 5 believe they would be able to do so without facing hardship.
  • Potential homeowners named price issues as major barriers to homeownership, with 62% saying they can’t afford the home they want and 61% saying housing is overpriced right now.
  • 56% of adults said they see buying a house as a financial risk, while 65% said the possibility of losing their income was a “major” financial risk associated with homeownership.

Americans across generations have an enduring desire to own their own home, but high prices driven by a persistent lack of supply have a large share of would-be homeowners doubtful of their ability to make the dream of homeownership come true.

As mortgage rates reach their highest levels in decades, a new Morning Consult survey indicates that consumers are uncertain not only about their ability to afford a home, but about the financial risks associated with owning and maintaining one. In the survey, just 22% of those who could potentially buy a home expressed confidence in their ability to do so without financial hardship.