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Columbia Business School Professor Stijn Van Nieuwerburgh spoke with Washington Post reporter Julie Weil about the growing number of Americans who are abandoning the goal of homeownership amid rising prices and higher interest rates. Van Nieuwerburgh explained that worsening affordability, limited housing supply, and increased borrowing costs have fundamentally altered the economics of buying a home—particularly for younger and middle-income households. He noted that these pressures are reshaping long-term wealth accumulation and could have lasting consequences for inequality, household stability, and the structure of the U.S. housing market.
