Personal finance expert Dave Ramsey is delivering a blunt message to aspiring homeowners: getting into the housing market is still possible, but not without first tackling overwhelming personal debt.

In a recent interview on Fox Business, Ramsey argued that many younger Americans have been put at a disadvantage by rising debt levels across the board.

“I’m afraid I have to tell you the truth, and that is that corporate America has screwed you,” Ramsey said.

He pointed to record-breaking debt burdens weighing on younger generations. “Car debt is at an all-time high… Student loan debt is at an all-time high… And of course credit card debt, thank you to the big banks, is at an all-time high,” he continued. “When you’re drowning in personal debt, you can’t afford to buy a house!”

Recent data from Experian underscores his point. As of November 2025, the average Gen Z borrower carried $34,328 in debt, while millennials owed an average of $132,280.

Ramsey placed much of the blame on large institutions and policymakers, arguing that multiple forces have contributed to the financial strain facing these age groups. “That’s what’s happened. We’ve had these big companies, the car companies, the banks, and Congress with the student loan debt screwing these two generations [millennials and Gen Z] at a record like never before.”

Despite the bleak outlook, Ramsey said younger buyers are not shut out of the market entirely, but only if they make significant financial changes.

“What we’re finding is lots of Gen Zers, lots of millennials able to buy a home when they fight through and sell the stupid car and get rid of these debts. Our message to Gen Z and to millennials…is clear this debt, get rid of the stupidity, chop up the cards, and work your way through it,” Ramsey said. “Once you do that, you can get there.”

Still, he acknowledged that personal debt is only part of the problem. Broader market forces are also making it difficult for first-time buyers to break in.

“We’re still recovering from this huge spike in house prices following Covid,” he said. “We had the most unrealistic real estate market in 100 years following Covid.”

Ramsey noted that once pandemic restrictions eased, buyers rushed into the market, taking advantage of initially lower prices. That surge in demand ultimately drove prices sharply higher.

“Now we’ve got a shortage of inventory,” Ramsey continued. “Supply-demand has not allowed those prices to come back down. We’re seeing these spikes in prices, and that’s pushed this age [group] out.”