In the past, home ownership has been an important part of the American dream. Buying a home was the most important investment decision that citizens made. That investment could provide for one’s retirement; and equity in the home could be used to borrow for education, health care, and emergency expenditures.
Unfortunately, for many citizens, and especially for younger generations, the dream of home ownership is disappearing. Inflationary increases in home prices are pricing many citizens out of the housing market. Inflationary increases in property taxes are taxing some citizens out of their homes.
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