Oct 14, 2026 · 10 min · 7 segments
For generations, owning a home was a cornerstone of the American Dream. But for millions of younger Americans, that dream is rapidly becoming financially out of reach. For this episode of…
Ken ChesterHost
Are young Americans permanently priced out of home ownership and designed to be renters forever? Let me give you some context first.
48% of baby boomers, that would be folks my age, were homeowners by age 30, and I fell into that, absolutely.
Elevated home prices combined with high mortgage rates have made home ownership feel out of reach for many young adults.
Meanwhile, rent increases have further strained household budgets, making it difficult for renters to save for a down payment.
Used to be, long time ago, you could own a home with one income, a halfway decent car in a decent neighborhood, raise your family.
Today, the average well-paid millennial is having a hard time trying to save money for the typical 10 to 20% down payment that they would require.
Even if they qualified for a first-time buyer program, if your city, state, or town offers that, it's still 5%.
If the price of your house is $320,000 and you're trying to come... 10% is 32,000, 5% is still $16,000.
Here in Des Moines, in our city, our state, they brag that Des Moines is very livable, very wonderful.
Oh, my goodness, I've seen prices starting around 900 to 1000 a month on up for basically a very snug one-bedroom.
If you want what I would consider a decent-sized two-bedroom, say about 1300, 1400 square feet, you're gonna be paying, even in Des Moines, well north of $2,000 a month.
If rents keep going up, and you're working, you're thinking about starting a family, you've got student loans to pay, you're working a full-time job, you might even, because in Iowa you don't got much of a choice, you're gonna own some kind of car.
Ain't necessarily gonna be a luxury car, but you're gonna have four wheels somewhere.
Are young Americans permanently priced out of home ownership and designed to be renters forever? Let me give you some context first.
48% of baby boomers, that would be folks my age, were homeowners by age 30, and I fell into that, absolutely.
Elevated home prices combined with high mortgage rates have made home ownership feel out of reach for many young adults.
Meanwhile, rent increases have further strained household budgets, making it difficult for renters to save for a down payment.
Used to be, long time ago, you could own a home with one income, a halfway decent car in a decent neighborhood, raise your family.
Today, the average well-paid millennial is having a hard time trying to save money for the typical 10 to 20% down payment that they would require.
Even if they qualified for a first-time buyer program, if your city, state, or town offers that, it's still 5%.
If the price of your house is $320,000 and you're trying to come... 10% is 32,000, 5% is still $16,000.
Here in Des Moines, in our city, our state, they brag that Des Moines is very livable, very wonderful.
Oh, my goodness, I've seen prices starting around 900 to 1000 a month on up for basically a very snug one-bedroom.
If you want what I would consider a decent-sized two-bedroom, say about 1300, 1400 square feet, you're gonna be paying, even in Des Moines, well north of $2,000 a month.
If rents keep going up, and you're working, you're thinking about starting a family, you've got student loans to pay, you're working a full-time job, you might even, because in Iowa you don't got much of a choice, you're gonna own some kind of car.
Ain't necessarily gonna be a luxury car, but you're gonna have four wheels somewhere.
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