Rent is high, housing inventory is low and competition is fierce.
USA TODAY
Doing the math left them uneasy. The stress of it all led to a near-meltdown one day on a trip to Home Depot.
At their most optimistic, affording a house seemed just within the realm of possibility for Elizabeth and David Glidden, both 26. They had saved enough for a 10% down payment. But as they searched for a home, ownership became tenuous when the couple considered their monthly expenses.
Buying meant giving up a relatively inexpensive rent-controlled apartment — a one bedroom for $2,150 a month, including utilities. On top of that, the neighborhoods they could afford would add transportation costs of up to $300 a month because they would no longer be able to walk to work. If they bought a condo, there would also be monthly association fees.
