Out of reach American dream: High home prices and mortgage rates dash home ownership dreams for many California families

Q: How long will it take to read this news story?

The story "Out of reach American dream: High home prices and mortgage rates dash home ownership dreams for many California families" has 1246 words across 43 sentences, which will take approximately 6 - 11 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Out of reach American dream: High home prices and mortgage rates dash home ownership dreams for many California families" was covered 14 hours ago by Business Mirror, a news publisher based in Philippines.

Q: How trustworthy is 'Business Mirror' news outlet?

Business Mirror is a fully independent (privately-owned) news outlet established in 2005 that covers mostly business and startups news. The outlet is headquartered in Philippines and publishes an average of 86 news stories per day. It's most recent story was published 9 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #25788373</li><li>URL: https://beamstart.com/news/out-of-reach-american-dream-17385804792597</li></ul>

Business Mirror Logo Business Mirror 14h ago

Out of reach American dream: High home prices and mortgage rates dash home ownership dreams for many California families - Business Mirror

Quick Summary:

The Petersen family’s two-bedroom apartment in northern California is starting to feel small.

Two years ago, furious to learn that her subsidized apartment’s monthly rent was being hiked to $2,900, Lopez, who earns about $60,000 annually, took out her phone and began searching for government programs that help first-time homebuyers.

The issue is widespread and near historic highs nationally: As of last fall, the median homeowner in the US was paying 42 percent of their income on homeownership costs, according to the Atlanta Fed.