The American dream of homeownership is hitting a dead end for younger generations—and no, it’s not just about interest rates or avocado toast. It’s about supply. More specifically, it’s about the homes that aren’t hitting the market because an entire generation (spoiler alert: it’s Baby Boomers) is refusing to sell.
For decades, Boomers bought homes at prices that, by today’s standards, seem almost comically low. A three-bedroom ranch in a good school district? $75,000 in the ’70s. A craftsman bungalow in a now-trendy urban neighborhood? Bought for less than the cost of a new compact car today. Fast-forward to 2026, and those same homes are now worth at least $400,000 or $500,000—sometimes more.
