The average age of U.S. homebuyers jumps to 56
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Re: The average age of U.S. homebuyers jumps to 56
#2Up from average of 40
Re: The average age of U.S. homebuyers jumps to 56
#3Up from average of 40
From TFA, emphasis mine:
“The average age of homebuyers is now 56, up from 49 in 2023…”
Re: The average age of U.S. homebuyers jumps to 56
#4Re: The average age of U.S. homebuyers jumps to 56
#5Without taking away from the reality of housing costs, the long-term chart [1, chart is a year old but looking for trends] suggests other explanations. In particular, the average of first-time buyers was 35, up from 30 as recently as 2010. That's a bad trend.
The overall average appears to be driven by people who have bought homes before. Anecdotally, the Boomers I know bought houses well into retirement where their parents typically made their last home purchase in their 30s. I am less concerned about housing turnover among older people.
1 - https://www.axios.com/2023/11/20/american-housing-market-old...
Re: The average age of U.S. homebuyers jumps to 56
#6This is not a U.S only or even a western issue. UK, EU, China, India etc all suffer from crazy real estate prices.
I think the whole world is due for a big societal revamp. The old generation has concentrated too much asset wealth for the productive generation to stay productive.
Re: The average age of U.S. homebuyers jumps to 56
#7Well that’s what happens when you frame housing as an investment. If it didn’t outpace the market and the consumer inflation rate, it wouldn’t be a good investment. So by definition it must become unaffordable for the masses.
No great way out of this mess.
Re: The average age of U.S. homebuyers jumps to 56
#8This is not a U.S only or even a western issue. UK, EU, China, India etc all suffer from crazy real estate prices. I think the whole world is due for a big societal revamp. The old generation has concentrated too much asset wealth for the productive generation to stay productive.
Not Japan, fwiw. Japan has been very reasonable for real estate for decades. We're now seeing inflation in major metro areas but outside of that, it's very reasonable.
Re: The average age of U.S. homebuyers jumps to 56
#9Well that’s what happens when you frame housing as an investment. If it didn’t outpace the market and the consumer inflation rate, it wouldn’t be a good investment. So by definition it must become unaffordable for the masses. No great way out of this mess.
Mortality fixes generational issues
Re: The average age of U.S. homebuyers jumps to 56
#10This is not a U.S only or even a western issue. UK, EU, China, India etc all suffer from crazy real estate prices. I think the whole world is due for a big societal revamp. The old generation has concentrated too much asset wealth for the productive generation to stay productive.
Not Japan, fwiw. Japan has been very reasonable for real estate for decades. We're now seeing inflation in major metro areas but outside of that, it's very reasonable.
Japan also suffers from severe population decline (I think it has been declining for 15 years straight). Aka the old guard let their assets go the hard way.