Top 5 Barriers to Owning a Home in the U.S.

1. Limited Mortgage Availability

Following the Great Recession, mortgage lending decreased substantially as banks withheld loan approvals from many households, even those with excellent credit scores. The lack of available credit played a significant part in depressing the national homeownership rate, forcing many into renting rather than owning a home. Though credit standards loosened slightly since the end of the Great Recession, and mortgage lending has slowly improved, mortgages remain largely inaccessible to millions of households. Restoring mortgage lending requirements to safe, yet accessible standards, is key to enabling creditworthy households to purchase homes, thereby improving the homeownership rate.