When it comes to the American dream, homeownership plays a starring role for most. These days, however, this dream is becoming seemingly harder and harder to realize. As a millennial who has yet to purchase his first home I know this firsthand.
Nationwide, it now takes 14 years for those earning the median income to save for a 20% down payment on a median-priced home, according to a new report by Unison. In places like Los Angeles and San Francisco, that number surges to 43 and 40 years, respectively. Here in Columbus it takes 12 years on average.