The median renter in America has a net worth of $10,400. The median homeowner’s net worth is $400,000

CNN — Two years ago, Elizabeth Grantham decided she didn’t want to rent much longer, so she moved from her hometown in the pricey San Francisco Bay Area to Washington state to save up to buy a home. “In this economy it’s literally impossible.” Those who want to buy their first homes have faced the one-two punch of rising home prices and stubbornly high mortgage rates. The Aspen Institute’s report — which primarily used data from two surveys, the Federal Reserve’s Survey of Consumer Finances and the Survey of Household Economics and Decisionmaking — found that at every income quintile, renters, who make up over one-third of US households, have less positive cash flow, more burdensome debt and fewer savings than homeowners. Instead, you put more money into housing every year in rent, and someone else benefits from the value going up.” One million new multifamily units are expected to hit the market this year and next year, potentially dampening rent hikes in the near future. “And the current conditions make it harder for people who don’t already own homes or already have considerable wealth to get on that housing ladder.” A break for renters?