Bess Freedman recently joined CNBC’s "Closing Bell Overtime" to discuss the worsening housing affordability crisis, following a report revealing that only 21% of middle-income Americans can afford a home today—down from 49% in 2019. Freedman called the situation “unsustainable,” noting that first-time buyers are now, on average, 40 years old—ten years older than a decade ago. With high prices, limited inventory, and elevated mortgage rates, many are opting to rent, even if they could technically buy. Despite the challenges, Freedman remains a vocal advocate for homeownership as a tool for building long-term wealth and stability. Watch the full segment below.
“If you're planning to stay put, owning is still your best investment,” she said, reiterating a familiar rule of thumb that if you plan to remain in a home for five years or more, buying generally makes financial sense. “That advice still holds. But people have to weigh the pros and cons—it’s highly circumstantial.” - Bess Freedman
