Why this California family can't buy a home despite earning $270,000
Feb 02, 2025
The Petersen family in California can't buy a home, even though they make a lot of money. They live in a small apartment with their kids, Jerrik and Carolynn. They want a bigger house, but they can only afford to rent. Buying a home in their area is too expensive for them. Many families in the U.S. are in the same situation - they pay a lot for housing and can't afford to buy a home. The cost of homes is going up, and many people have to rent instead. Young people are waiting longer to buy their first home because there aren't enough houses for everyone who wants one. People are worried about the high cost of housing. Some people, like Julieta in Boston, are getting help from the government to buy their first home. She worked hard for many years and finally was able to buy a condo with the city's help. She feels proud to have her own place after working so hard. In California and around the country, many families are struggling to afford a home of their own. Some cities are providing aid to help first-time homebuyers like Julieta. Despite the challenges, many families, like the Petersens, are hopeful that they will one day be able to buy a home and have their piece of the pie.