Millennials can’t catch a break in America’s housing market

Millennials struggle in first home buyer market as high rates and costs limit options, says Joe Ciolli

US millennials entering the housing market are finding little relief as high mortgage rates and elevated home prices continue to squeeze affordability.

Joe Ciolli from Business Insider says many prospective buyers have spent years waiting for borrowing costs and prices to improve, only to face limited options and higher monthly repayments.

For some homeowners, the affordability squeeze is also making it harder to move, creating a market where buyers and existing owners can feel trapped by the cost of their next move.