Real Estate and Savings

• 🏠 Real estate prices are high, with 40% of homes in America owned free and clear, and rental prices are up, making it difficult for young people to afford homes.
• 📊 Existing homeowners can write off the interest on their home loan against their income, but renters cannot, reducing their ability to save money.
• 📈 Getting a down payment together can take over a decade of dedicated savings in high-cost cities, and young people who overcome this hurdle still face problems with high interest rates and property taxes.