Chart Of The Day

New data reveals that the American dream of home ownership is on life support for first-time home buyers.

With mortgage rates hovering near 7% and a median-price home near $422,000 Americans need to make six figures to participate in the housing market nowadays. 

To put this in perspective, in 2004 the number of first-time home buyers totaled 3.2 million according to the National Association of Realtors.  By 2024 this number had plunged to only 1.14 million.

Complete story here at Fortune.