It's happening right before our eyes. America is becoming a renter nation right now. Gone are the days of the American dream with the white picket fence. Buying a house has now become out of reach for many Americans. The average 30-year mortgage reached a record high for 2024 at over 7% according to Freddie Mac.

Now, as you know, these mortgage rates have put a massive damper on the home buying market

as rates make mortgage costs more expensive and more Americans are finding homeownership out of reach.

On top of this, homeowners who are locked into record low mortgage rates are hesitant to sell.

It's understandable why these people are holding on to their properties.

Why swap out a 3% rate for a 7% rate?

It's been estimated, of course, that more than 90% of American homeowners are locked into rates just below 6%.

So the math doesn't make sense for most homeowners.

In fact, a Redfin survey reported

that nearly two and five homeowners right now don't believe they'd be able to buy their home

in today's housing environment. Think about that. That's how stretched thinly Americans are right now,

just that little margin. There's been a supply issue in the housing market for years now.

But because of the way that interest

rates have influenced home buying trends, the demand for rental properties has increased nationwide.

We don't have enough of them. We have a housing crisis. So many people are priced out of this

home buying market, with the average monthly payment on a mortgage being north of $2,000. It's

incredibly expensive to buy a home

today. And a recent Zillow report found that new home buyers would need to make six figures in order

to afford a house in this current housing market. This figure is up to 80% in 2020. There's such a

massive housing shortage and interest rates are one key indicator that we need to move in order to more supply the market right now.

A new report from Realtor.com found that the supply of available homes has dramatically decreased 34% since before the pandemic.

So the supply issue right now, combined with all these higher rates,

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