Which of the following is a barrier to homeownership?

High savings requirements present a significant barrier to homeownership because they necessitate that potential buyers accumulate a substantial amount of cash for a down payment and other associated costs before they are even able to secure a mortgage. This requirement can be particularly challenging for lower-income individuals or first-time homebuyers who may already be financially stretched.

In contrast, low property values could make purchasing a home more accessible, as homes are more affordable. Generous loan terms typically suggest favorable borrowing conditions, thus facilitating access to homeownership. High interest rates, while they can increase monthly mortgage payments, are not universally a barrier since some buyers may be able to qualify for loans with reasonable repayment plans. Overall, it is the high savings requirements that create a more formidable obstacle for aspiring homeowners.