12/16/24

Average homebuyer is now 56 years old!

I live in a parsonage, though in the past I've owned a condo.  In the future I hope to own a house again.  Many people of my generation will not be able to own a home, or not until late in life.  Here is a discussion from the good folks at "Breaking Points" about new data indicating that, right now, the average age of a homebuyer is 56 years old.  The average age of a first time homebuyer is nearly 40!

Our country faces a housing cost problem.  It isn't as bad (yet) as in countries like the UK and Canada (which many young adults are fleeing), but it needs to be addressed by policy makers and financial institutions.  

I suspect the increasing improbability of ever achieving "the American dream" is one more contributing factor in "the meaning crisis" or cultural malaise that so many commentators have been concerned about. 


Labels: , , ,

0 Comments:

Post a Comment

<< Home