The following is a preview of Daily Signal Politics Editor Bradley Devlin’s interview with Rep. Pat Harrigan, R-N.C., on “The Signal Sitdown.” The full interview premieres on The Daily Signal’s YouTube page at 6:30 a.m. Eastern on Jan. 22.

America has hit another record, but it’s not a good one.

Last year, the median age of the first-time homebuyer in America hit 40 years old. In the 1980s, the average age of the first-time homebuyer in America was just 28.

What happened?

Higher interest rates in recent years have taken their toll, but today’s interest rates are nothing compared to the 1980s, when the first-time buyer’s age was much lower.

The answer is that housing prices have gone up, and for many different reasons. While an average house was around three times the average annual American wage, the average house now costs around seven times the average annual income. 

Part of the reason that home prices have shot up is that large, multibillion-dollar institutional investors are increasingly snapping up homes.

These institutions have crowded out younger families who can’t compete, which has contributed to........

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