Home prices and interest rates aren't getting any lower, and many people are settling for simply renting their homes. Turns out, this could have some major long-term consequences.
Real estate expert Ronnie Matthews told KTRH that home ownership has been the primary vehicle for the growth of personal wealth for decades. Without home ownership, generational wealth could become more rare.
Matthews also said that there are many different factors falling home purchases.
"Property taxes continue to go up because the home values continue to go up, insurance has really jumped in the last couple of years too."
Matthews says, all that, combined with the inflation we see in everyday life, is leading to home ownership, and the wealth growth that comes with it, being unattainable.