Homeownership still defines the American dream, but getting there has never been harder. Nationally, the homeownership rate holds steady at around 65%, yet that stability masks a growing divide. Nearly 75% of U.S. households cannot afford a median-priced home, and first-time buyers now make up just 21% of the market, the lowest share on record.
Even more telling, Americans are waiting longer than ever to buy their first home. What was once a milestone in your late 20s now often comes closer to 40. The path hasn’t changed, but the barriers have. That’s exactly why Talbot County is hosting its first Housing Fair.
The event brings the process back into focus, connects people to real resources, and reminds would-be buyers that while the market is tough, the door to homeownership is still open.
We sat down with Keasha Haythe, a member of the Talbot County Council who has taken a special interest in expanding access to homeownership, to talk about why this effort matters and what it means for the future of Talbot County.
Q. What led Talbot County to launch its first Housing Fair. Why now?
A: This has been in the works for a couple of years. My focus as a council member was to educate the community on home ownership and provide resources to share.
Q. How does expanding access to homeownership strengthen communities and support the long-term future of Talbot County and its local businesses?
A: Expanding homeownership in Talbot County strengthens communities by helping residents build wealth, stay longer, and invest locally. That stability supports local businesses through consistent spending, creates a reliable workforce, and encourages more community involvement which makes the county’s economy and neighborhoods more resilient over time.
Q What is the connection between homeownership and workforce, and why should employers care?
A: Homeownership and the workforce are closely linked because stable housing supports a stable, reliable employee. People who own homes are more likely to stay in one place, maintain consistent employment, and invest in their communities. Employers should care because homeownership can reduce turnover, improve productivity, and strengthen the local talent pipeline. When workers have stable housing, they’re generally less stressed and more focused, which benefits overall business performance.
Q. What are the most significant barriers first-time home buyers are facing in today’s market?
A: When speaking with community members and realtors, they have shared that credit score has been a significant barrier and the need for closing cost funds. Financial budgeting and education regarding finances is also needed.
Q. Where do you see the greatest misconceptions about buying a first home?
A: One of the biggest is that you need a 20% down payment. In reality, many loan programs offer assistance. This misconception alone keeps many qualified buyers on the sidelines longer than necessary.
Another common misunderstanding is that perfect credit is required. Stronger credit helps, many lenders work with moderate credit scores. Buyers often assume they won’t qualify and never explore their options.
Many people believe renting is always cheaper without considering long-term equity and stability. While renting can make sense in some situations, it’s not automatically the lower-cost path over time.
Finally, some assume the process is too complicated or out of reach, when in fact guidance from lenders, housing counselors, and local programs can make it far more easier to navigate.
Q. What resources or opportunities will people discover at the Housing Fair that could change what they think is possible?
A: Resources. People don’t know what they don’t know. Having access to resources and knowing what resources are available is the first step. This housing fair is the first step of many more.
Q What advice would you give to someone who feels like homeownership isn’t possible for them?
A: Take it from a person who felt the same way. It is possible. Reach out to a realtor who can out you in touch with a mortgage lender to get a pre-approval or at least start the process to see what is needed to get you through the process and become a homeowner.
About Talbot County Department of Economic Development and Tourism
The Talbot County Department of Economic Development and Tourism’s mission is to enhance and promote a business-friendly environment for current and prospective enterprises and to advocate for policies that support and strengthen the economic vitality of Talbot County. The department’s vision for Talbot County is built on the principles of strong communities, empowered businesses, and innovative solutions.
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