Tag: mortgages
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Homeownership Is Sold as the American Dream: Is Buying a House Worth It?
For many generations, buying a house was the ultimate American dream. Buying a house meant you had “made it.” Even with 30-year mortgage rates averaging about 14% in 1984, people were buying homes, and the typical house cost about 3.5 times the typical household’s annual income. The housing market has changed a lot in 40…