David ChartierDec 16, 2024

The average age of homebuyers in the US is now 56

The median age of first-time buyers is 38 (up from 34 last year)

The share of first-time buyers dropped from 32 to 24%

The median home price is now $435,000, which is up THIRTY NINE PERCENT since 2020

This is so astoundingly fucked

https://www.cnbc.com/2024/11/04/homebuyer-average-age-rises-to-56-amid-rising-homeownership-costs.html

The average age of U.S. homebuyers jumps to 56—homes are 'wildly unaffordable' for young people, real estate expert says

With home prices up nearly 40% since 2020, buyers are now wealthier and older, making them more likely to outbid younger buyers with all-cash offers.

CNBC
Show threadCorb_The_Lesser
@chartier The housing industry in the US is committed to maximizing profits, not building homes that meet actual needs. So, we get expensive new oversized houses and new sprawling apartment complexes and nothing in between. Couple that with corporate ownership of swathes of older homes and you get a distorted housing market
Dec 16, 2024 at 9:43amWeb