First-time home buyers are historically low due to rising prices, making homeownership increasingly unattainable for young buyers. This trend reflects the broader struggles faced by new entrants to the housing market.

The economist highlights the negative impact of the potential dismantling of consumer protections in real estate lending, emphasizing that a lack of regulation could return to practices that mislead borrowers, thus threatening the market stability and homeowners' financial security. He fears that these changes could lead to significant consequences for future borrowers and the real estate market.