High house prices and rising mortgage rates have become a major concern for many young homebuyers globally. This phenomenon directly impacts their home-buying plans and life arrangements, leading to feelings of stress, anxiety, and disappointment.

For instance, at the end of last year, 31-year-old Katie Senna and her boyfriend embarked on their house-hunting journey in Indianapolis with great enthusiasm. With two stable jobs, minimal student loan debt, and a substantial down payment, they thought they would soon realize their dream of homeownership.

However, as mortgage rates continued to climb, their plans were met with numerous obstacles. With soaring property prices, their monthly mortgage payments exceeded their financial capacity, ultimately forcing them to abandon their homeownership plans and opt for a rental apartment.

This isn't a predicament unique to Katie Senna and her partner. Many ambitious young homebuyers are deeply affected by the surge in house prices and mortgage rates.

Jung Choi, a senior research assistant at the Urban Institute, pointed out that younger homebuyers with less wealth and lacking family financial support face even greater challenges. This phenomenon is particularly pronounced among millennials and Gen Z, with many feeling that they have missed the best opportunity for homeownership.

Even with a slight decline in mortgage rates, some still consider homeownership to be beyond reach.

In conversations with clients, therapist Keira Kran has found that the difficulties in homeownership have become a major topic of anxiety and disappointment for many.

Many people feel disheartened by their inability to purchase a home, while some couples who have already begun preparing for homeownership feel anxious due to fluctuations in mortgage rates, leading them to make decisions such as postponing parenthood or reassessing their financial capabilities.

Faced with this situation, young homebuyers often feel that their dreams are shattered, accompanied by negative emotions such as stress, anxiety, and anger.

This psychological pressure has a negative impact on their personal relationships and emotional well-being, and may even lead to unnecessary blame and arguments within partnerships, leaving them feeling devastated.

To address this issue, comprehensive measures are needed. On one hand, the government needs to assist young people in coping with the challenges posed by soaring house prices and rising mortgage rates through measures such as regulating the real estate market and providing financial support.

On the other hand, therapists and social institutions need to provide more psychological support and counseling services for this group of people, helping them cope with the psychological distress caused by homeownership challenges.