Mortgage: Impossible

Homeownership is out of reach for the average American family. Unless something changes, houses will only be a plaything for the rich rather than a place to live.

American house prices have defied gravity. Despite one of history's most aggressive interest rate hiking cycles, home prices have marched ever higher. As a result, the white-picket-fence American dream is dead. Homeownership is now out of reach for the average family. There are three reasons for this: First, saving for a deposit takes over a decade. Sec…