(NewsNation) — Homeownership has long been a cornerstone of the "American dream," but mounting affordability challenges have put that goal out of reach for many.

These days, younger and older generations view the dream very differently. Nearly 70% of adults over 65 believe the "American dream is still possible," compared with just 39% of those under 30, according to a 2024 Pew survey.

Housing costs appear to be a major driver of young adults' skepticism — a problem that has been years in the making.

New construction plunged during the Great Recession, shrinking the nation's housing supply and worsening a shortfall that persists to this day. The inventory constraints came at a time when home prices had already been outpacing wages for years.

Then the pandemic hit. Record-low mortgage ra

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