Sky-high housing prices widen wealth divide between renters and homeowners
Record housing costs are expanding the financial gap between renters and owners, benefitting homeowners while many potential buyers are priced out.
Housing prices have reached unprecedented levels, pushing the wealth disparity between renters and owners to its widest point. Homeowners see their equity grow, but a growing number of would-be buyers cannot afford to enter the market. The story highlights individuals like Jay Washington, a 38-year-old from Athens, Georgia, who struggles with underemployment and doubts he will ever purchase a home. Photographs by Alyssa Pointer illustrate the personal impact of this trend.
Why it matters
Rising home prices deepen economic inequality, limiting upward mobility for many households.
In this story
housing costswealth gaprentershomeownersaffordabilityunderemploymenthomeownershipequity