Home prices have increased at a staggering rate in 2021, leaving many wondering whether or not they can afford to own a home on their own.
In the third quarter of 2021, home prices in the U.S. increased by 18.05%, according to the Federal Housing Finance Agency. As a result, many people, particularly those in younger generations, feel like they’ve been priced out of homeownership, a key part of the American dream.
If you want to become a homeowner but aren’t sure you can afford to do it on your own, co-ownership could be a solution. Here’s what to know about how it works, along with the benefits and drawbacks to consider.
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