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Priced out of home ownership


The US housing market has changed dramatically since the pandemic - an issue looming over the election.

She and her wife finally bought a home this year, but only after swallowing a 6.625% rate - and moving 1,200 miles north to Columbus, Ohio, a spot selected from a spreadsheet she created of cities with lower costs. Challenger Donald Trump, who fares better, has sought to blame Mr Biden for inflation, and though he does not typically call out housing specifically, he regularly spotlights "skyrocketing" interest rates to argue that the economy is heading in the wrong direction. They note reports by private firms that show rental increases - which play a big role in calculations of US inflation - cooling from the torrid pace of the pandemic amid a jump in apartment supply.

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Home ownership is not the boon to older Americans that it once was