Report: Utah homeownership increasingly out of reach for many

Public News Service Newscasts

Report: Utah homeownership increasingly out of reach for many For generations, homeownership has been synonymous with the American Dream, but a new Utah report shows housing affordability is at historic lows, with millennials seeing the largest decrease in housing affordability during what the report calls "peak household formation years." Steve Waldrip, senior adviser for housing strategy and innovation for the State of Utah, said while Utah has some of the highest levels of homeownership in the country, wages haven't increased at the same rate home prices have, leading to a housing crisis. "Most of our none-homeowner residents cannot afford to get into a home," Waldrip pointed out. "The vast majority, I think we are probably in the 80% range. "...(Read More)