Homeownership Dream Delayed: Record Age for First-Time Buyers
Update: 2025-11-11
Description
First-time homebuyers face unprecedented challenges, with the median age reaching forty and only 21% of buyers being first-timers. High interest rates, rising home prices, and stagnant salaries are creating significant barriers. Experts like Jessica Lautz attribute this to rising costs of living and student loan debt. The median home price is over $415,000, with mortgage rates fluctuating between 6.6% and 6.8%. Policymakers struggle to find solutions, as ideas like 50-year mortgages are criticized for not addressing high home prices and potentially leaving buyers in debt longer.
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