Young Americans are increasingly finding themselves shut out of the housing market as rising debt levels and lingering affordability pressures reshape the path to homeownership.

“The Ramsey Show” host Dave Ramsey joined FOX Business’ Cheryl Casone on the FOX Business In Depth Special, “Hitting Home: Rebuilding the Dream,” to break down the financial realities facing first-time buyers and why many are falling behind.

Ramsey pointed to a combination of record-high consumer debt and shifting economic conditions that have eroded buying power across younger generations.

“I’m afraid I have to tell you the truth… Corporate America has screwed you,” Ramsey said. 

“Car debt is at an all-time high… Student loan debt is at an all-time high… And, of course, credit card debt… is at a all-time high.”

MIAMI OVERTAKES LOS ANGELES AND NEW YORK AS WORLD’S RISKIEST HOUSING MARKET FOR BUBBLE RISK

Those pressures, he explained, are leaving many without the financial flexibility to enter the housing market, as disposable income is increasingly consumed by monthly obligations.

“When you’re drowning in personal debt, you can’t afford to buy a freaking house,” Ramsey said.

Beyond debt, Ramsey also highlighted the post-pandemic housing surge as a key factor pushing first-time-buyer ages higher, noting that supply shortages and elevated prices continue to weigh on affordability.

MORTGAGE RATES JUMP TO HIGHEST LEVEL IN OVER 3 MONTHS

Despite the challenges, Ramsey pushed back on the idea that homeownership is out of reach, arguing that progress is still possible for those willing to aggressively tackle debt.

“Our message to Gen Z and to millennials… is: clear this debt, get rid of the stupidity, and chop up the cards and work your way through it… Once you do that, you can get there,” Ramsey said.

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Elon Musk offered to cover the salaries of Transportation Security Administration (TSA) personnel during the ongoing government funding standoff.

“I would like to offer to pay the salaries of TSA personnel during this funding impasse that is negatively affecting the lives of so many Americans at airports throughout the country,” Musk said in an X post on Saturday morning. 

This is a developing story. Please check back for updates.

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Vincorion shares jumped on the group’s first day of trading as investors eye a business boost for Europe’s defense suppliers.

Shares in the German company, which supplies aviation and vehicle systems for the defense industry, traded at 19.59 euros in morning trading, up 15% from a listing price of 17 euros a share. The company had said it aimed to raise 345 million euros ($399.8 million) through the initial public offering at the listing price.

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of HTT either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

The Indian rupee plunged as much as 110 paise on Friday, recording its steepest single-day rout since late 2022, after oil surged amid an unrelenting barrage of attacks by either side on respective energy installations in West Asia. It slumped to a historic low of 93.73 amid a report that New Delhi paid a significant price premium for its Thursday oil supplies before the unit closed at 93.71/$.

The pace of decline was rather quick, seemingly compensating for the Thursday trading holiday in Mumbai, with traders saying that market estimates of the central bank’s short dollar positions and sustained sales of Indian equity assets by overseas investors further pressured the rupee, which has lost more than 2.5% since the start of the Iran war.

The Reserve Bank of India (RBI) sold dollars at multiple levels on Friday, but traders said its interventions were aimed only at moderating the pace of depreciation, not reversing the pronounced downward trend.

“If the current trends continue, the rupee could weaken toward 94/$ to 95/$ levels, but the outlook remains highly fluid,” said Lakshmi Iyer, Group President, Investments, Bajaj Finserv. “Up until now, we have already seen reasonable intervention from the central bank, but beyond a point, the currency has to reflect the market equilibrium.”

The rupee had closed at 92.63/$ on Wednesday, LSEG data showed.

“With sustained FPI outflows and geopolitical uncertainty, the market is still searching for stability, and calling a firm range right now would be like throwing darts in the dark,” Iyer said.

One-Way Ticket

The rupee opened at 92.89/$ on Friday and consistently declined, crossing the 93/$ mark in the first hour of the day.
Traders said the RBI sold dollars at all key levels, 92.90/$, 93/$ and 93.50/$.

“There has been no positive news for the rupee since the war started, and though such a large fall wasn’t expected, it is understandable,” said Anil Bhansali, Head of Treasury at Finrex Treasury Advisors. “Importers are buying dollars to hedge their positions at almost all levels because they expect the currency to decline further, and at the same time, exporters have largely stopped hedging.”

Bhansali expects the rupee to trade in the range of 93.25/$ to 94.25/$ on Monday, as crude oil prices continue to stay above $100 a barrel.

Crude Oil India Basket stood at $156 per barrel on March 19, Petroleum Planning and Analysis Cell (PPAC) data showed, implying that India is paying a premium of $46 per barrel.

Brent crude prices are trading at $110 per barrel.

Reuters reported that Tehran attacked an oil refinery in Kuwait on Friday even as Tel Aviv vowed to avoid further attacks on Iran’s South Pars gasfield, a day after an Iranian retaliatory strike on Qatar caused damage that could cripple natural gas supplies for multiple years.

“Geopolitical tensions and their impact on crude prices will influence rupee levels. At the onset of the West Asia crisis, the rupee was expected to be between 93/$ to 94/$,” said Sameer Karyatt, MD and Head of Trading at DBS Bank. “But continuation in the conflict and upward pressure on crude oil prices are likely to guide the rupee towards the 94.50/$ to 95/$ range,” he said.

Rising crude oil prices fuel inflationary pressures and widen India’s current account deficit by increasing the import bill. They also weigh on economic growth by raising input costs for businesses and reducing consumption demand.