皮尤研究中心调查显示，18至39岁的美国人中不到四分之一认为买房是「非常好的投资」，而60岁以上人群中这一比例为38%。宾州大学沃顿商学院教授Susan Wachter指出，由于工资涨幅未能跟上房价和持有成本的飙升，首次购房者的投资回报大不如前。截至2026年5月的六年间，美国住房中位售价跃升53%至37.9万美元，借贷成本更是翻倍以上，而2025年美国屋主平均隐性开支达15,979美元，年增4.7%，远超家庭收入3.8%的涨幅。
尽管如此，仅有16%的40岁以下受访者认为房产是「不好的投资」。28岁教师Atalyia Ferrara虽以极低首付购入费城房产，却已为维修投入逾2.8万美元，还有2.5万美元的电气修缮费用待付，她形容房子成了「钱坑」。皮尤研究员Richard Fry表示，房产回报因地段和持有时间差异极大，并非一刀切的答案；拥房仍能为家庭提供稳定性和代际财富积累的可能。
Soaring homeownership costs are leading many young Americans to question whether buying a house remains a sound investment. Tony Zhang, 34, purchased a $950,000 townhouse in Irvine, California, in 2021 and now regrets the decision, estimating that investing his roughly 30% down payment in growth stocks or the S&P 500 could have yielded hundreds of thousands of dollars more. Meanwhile, renting a comparable apartment would save him about $800 per month compared to his $4,300 in housing costs, excluding maintenance.
A Pew Research Center survey found that fewer than 25% of Americans aged 18 to 39 view homeownership as a "very good" investment, versus 38% of those over 60. Professor Susan Wachter of Wharton attributes this shift to wages failing to keep pace with surging home prices and ownership expenses. The median US home sale price rose 53% to $379,000 in the six years to May 2026, borrowing costs more than doubled, and hidden costs such as property taxes, insurance, and maintenance averaged $15,979 per homeowner in 2025—growing faster than household incomes. More than half of US homes also lost value last year, the highest share since 2012.
Still, only 16% of under-40 respondents called housing a bad investment outright. Teacher Atalyia Ferrara, who bought a Philadelphia townhouse at 23 with a minimal down payment, has already spent over $28,000 on repairs with another $25,000 looming, calling her home a "money pit." Pew researcher Richard Fry noted that returns vary widely by location and holding period, making homeownership a complex, highly individual calculation—though it can still offer family stability and intergenerational wealth for those who can afford to hold on.