CNBC: "The average age of U.S. homebuyers jumps to 56"

Gaius · 2024-11-05T00:24:06.775Z

The average age of U.S. homebuyers jumps to 56—homes are 'wildly...

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.

From the article:

That’s a historic high, up from an average age in the low-to-mid 40s in the early 2010s.

The median age of first-time buyers also rose from 35 to 38, while the share of first-timers dropped from 32% to 24% of all buyers for the year ending July 2024. That marks the lowest percentage since NAR started tracking the metric in 1981.

I suspect many of those buyers are investor/landlords,
and they are gonna get their asses haded to them.

image1200×800 94.8 KB

Eagle-Keeper · 2024-11-05T00:45:19.937Z

Gaius:

From the article:

That’s a historic high, up from an average age in the low-to-mid 40s in the early 2010s.

The median age of first-time buyers also rose from 35 to 38, while the share of first-timers dropped from 32% to 24% of all buyers for the year ending July 2024. That marks the lowest percentage since NAR started tracking the metric in 1981.

I suspect many of those buyers are investor/landlords,
and they are gonna get their asses haded to them.

Also from the link:

The average age of homebuyers is now 56, up from 49 in 2023, according to the National Association of Realtors’ annual state-of-the-market report released Monday. That’s a historic high, up from an average age in the low-to-mid 40s in the early 2010s.

And the median age of first-time home buyers is 38 years old! That’s nuts! The idea of someone in their 20’s getting married and buying a single-family home is essentially a pipe dream for most people. At some point it will level off but I would still bet that being able to afford a single-family home will be out of reach for those in their 20’s and early 30’s.

Impenitent · 2024-11-05T00:58:21.339Z

the government will have to print housing stamps as well as food stamps

Gaius · 2024-11-05T01:16:13.967Z

And yet they (the gov’t but especially the Fed) keep subsidizing demand.

If the Gov’t says:
“Hey everybody! I’ll give you low interest loans to buy gas. Free money to buy gas and special programs to buy gas.”

What do you THINK will happen to the price of gas?
(and what will happen to the price when the programs cannot be continued?)

Oryx · 2024-11-05T21:55:09.124Z

CNN – 4 Nov 24

Americans who bought homes in 2024 were older and richer than ever | CNN...

A record number of Americans used an inheritance to help finance a down payment on their first home in 2024.

The survey found that first-time homebuyers had a median household income of $97,000, up from $95,900 last year

Median household income in the US in 2023 was $80,000. Seems like a problem.

Census.gov – 10 Sep 24

Income in the United States: 2023

This report presents data on income, earnings, & income inequality in the United States based on information collected in the 2024 and earlier CPS ASEC.

cora_madeline · 2024-11-27T11:49:43.829Z

Gaius:

That’s a historic high, up from an average age in the low-to-mid 40s in the early 2010s.

The median age of first-time buyers also rose from 35 to 38, while the share of first-timers dropped from 32% to 24% of all buyers for the year ending July 2024. That marks the lowest percentage since NAR started tracking the metric in 1981.

The rising age of homebuyers and declining first-time buyer share highlight growing affordability challenges in today’s housing market.

Impenitent · 2024-11-27T14:23:01.141Z

I quickly looked at the headline of this article and saw jumps to 56"…

dunking basketballs…