In the face of a possible recession, inflated housing prices and still-increasing interest rates, homeownership is moving further and further away for many Americans. Is employer assistance part of the solution?
In 2020, 30% of all households had what was considered “unaffordable” rent or mortgage payments, according to Harvard University’s annual State of the Nation’s Housing report. Two years later, the problem has only worsened — home prices rose another 20.6% from March 2021 to March 2022 and rents jumped 12%. As a result, one out of every five employees plan to delay buying a home due to their financial status, according to SoFi’s recent Future of Workplace study.
