It's a historically bad time to buy your first home

Source: Business Insider

Getty Images; Tyler Le/BIAaron Solomon and his wife briefly considered purchasing their first home in 2022, when the national homebuying frenzy was in full swing. But they laughed at the prices, which struck them as exorbitant for even a modest house. They decided to bide their time, moving from their fourth-story walkup apartment in Brooklyn to a more spacious rental home in Madison, New Jersey, about 45 minutes outside New York City.

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