Things are tough out there these days, no doubt about it!

And for younger folks, it can feel like they’ll never be able to afford to buy a house.

So, what gives?

A realtor from New Jersey named John took to TikTok to show viewers just how much things have changed in the past few years.

John talked about the differences in buying houses from 2021 and 2024 and said that it is “absolutely insane.”

He said, “The difference between the Millennials and even Gen Z who were able to buy a few years ago and are trying to buy now is just downright nuts.”

John crunched some numbers and told viewers that high interest rates are the main problem making home buying so much more expensive than it used to be.

He pointed out that in 2021, the median home price in the United States was $346,000 with a 10% down payment and a 3% interest rate, making the median mortgage payment back then $1,313 a month.

Fast forward to 2024, and the numbers were pretty bleak.

The median home price in 2024 was $405,000 with a 10% down payment and a 7% interest rate. To top it off, the median mortgage payment was $2,425 a month.

The numbers don’t lie, friends…

Check out the video.

@thejohnnatale

Replying to @2wheeledhobo those with a low interest rate just got out of ‘Nam, as they say. The difference in wealth is startling especially when you factor in the ability to invest the difference in what someone with a low rate would pay over the life of their loan versus someone buying with rates are what they are today. #realestate #housing #millennial #genz #housingmarket #realestatemarket

♬ original sound – Jersey John

This is how viewers reacted.

This person chimed in.

Another TikTokker shared their thoughts.

And this individual spoke up.

The American Dream ain’t what it used to be…

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