Home purchase

[SAJ-99]

First time homebuyers make up only 21% of the market and are coming in with a median are of 40.

Glad your niece made it happen though.

People are getting older before they can afford to buy their first home, new survey shows

First time homebuyers are getting older, according to a recent survey by the National Association of Realtors.

www.scrippsnews.com

Americans are getting older. Last estimate was about 39.3 years, so the home buyer age going up should be expected. The NAR is a clown show an organization, so take anything that comes out of the survey with a grain of salt. It is lobbying politicians to get stimmy checks to first time home buyers which will flow through to realtors commissions. The housing problem is multifaceted. Kind of "all of the above".

 

[mdhunter]

I read an article that explained there is about $80 Trillion dollars that is going to pass from one generation to the next, in a few years. I guarantee those fortunate enough to inherit part of this wealth will immediately buy another property. So much for those who hope/expect a major housing correction imho.

 

[Tradewind]

That would mean an increase of nearly 9k a year in property taxes and insurance in 6 years. Does not sound accurate. My taxes and insurance run around 4k per year total.

my old house had an increase of $4500 in one year for tax and insurance.