This Is The Average Age A First Time Home-buyer (Wow)

This Is The Average Age A First Time Home-buyer (Wow)

The average age someone becomes a homeowner for the first time has changed over the years and the reasons why will surprise you. With various factors influencing this trend, we’ll take a look at the shifts as well as examine why home-ownership is one of the best investments you can make.

[tatianastarcic]

To my own research In USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.

[kelvinjohnson]

As December approaches, the home I purchased in 2023 has appreciated by $60, 000 since my acquisition. However, the downside is the diminishing value of the dollar. I am currently contemplating strategies to reinvest $300, 000 in the real estate market.

[Annie]

Between student loans, rising home prices, and the job market, it’s no wonder people are waiting longer. It's not like it was 20 or 30 years ago when you could buy a decent house in your mid-20s.

[austinbar]

I’m closing in on my retirement and I’d like to move from Minnesota to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways?

[dustinjones]

I bought my house at 44 years old. Granted, never married or kids. I had lots of cash saved up and paid it off in 3 years. I'm glad I waited until I was financially secure, because major issues came up with HVAC and electrical replacements. It's tough for younger generations. It's okay to rent, but save up your money during your time renting.

[kwaichangcaine]

Property taxes are a real problem here in Cook County Illinois

[disch]

I am in my late 60s and have owned several homes over the years. If I had to do it over again I would have rented and invested the remainder in a low cost index fund. The amount of additional money in maintaining a home is more than most people can imagine. This includes the headaches and worrying about rising taxes, crime, insurance, weather events, etc. I would rent a nice place and enjoy my life. If that place gets dated I would move to a newer place. The larger standard deduction (Thank you Trump!) finally gives renters an edge in the Federal income department. Before you buy, seriously sit down an determine if you can afford it. Don't just consider the usual down payment, mortgage, insurance even for a brand new home.

[desiv]

That increase is crazy...
In 40 years (81-21), average age increased by 4 years. So increasing 1 year for every decade.
Then in 1 year, it increased 3 more years? That is a crazy jump....
I'm really hoping that is a bit of an aberration and will smooth out as time passes, but I have my doubts...

[nathanrice]

The bit about deflated dollars is something I wish people talked about more. My current mortgage payment is ~$1400 dollars. My last payment will also be $1400, but in 2050 dollars. Adjusting for inflation, that's less than $600 dollars today. My mortgage payment is going DOWN with inflation. If your mortgage interest is less than inflation, paying it off early is literally burning money.

[luc_de_hoogh]

Hi Chris, I'm a long time viewer of your channel, and I enjoy your content very much! Thanks for all the information you put out there for free! However, the point you make that being a homeowner is lower on the priority list for the current generation, is an incredibly out of touch statement. I am currently 27 and me and my girlfriend are desperately trying to find a home so we can start a family. And an awful lot of my piers are in the same position. Sleepless nights of trying to figure out how to find a home. It is for a lot of people their nr. 1 priority, but it becomes increasingly impossible.

[DorathyJoy]

I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?

[Aenion]

I bought my first studio flat at 25 with help from my parents (grandmother divided her inheritance in advance) for 125k
I bought my 2 bedroom house at 33 for 200k, renovated it largely myself.
Both my flat and house are relatively small but sufficient for my family, the advantage is that my mortgage is extremely low

[chadgravlin]

Bought mine last year at age 28, most of my friends aren’t even considering buying a house in the near future because of where the market is.

[CaseyLouis]

Buying and maintaining a house is too expensive.

[finmathsci]

You also need to calculate what usually happens to men during divorce and how the system destroys them in divorce courts.
Property tax, mortgage rates, etc, is a pure rip off system.
Altogether, owining a home in the US or Canada is absolutely not a good idea.

[WelelaBalcha]

Your thumbnail design is impressive, but I'd like to create some for free. I need it for my portfolio to showcase on Upwork.

[YourFrienjamin]

Are you telling me 1 in 2 people own a home in Washington DC, the apparent lowest homeownership place in America?

[clintonlunn]

The 70s and 80s also had sky rocketing housing prices.

[mhodge]

Net-worth is pointless if they don’t own the home as of yet so miss me with that

[mikeandrew]

I was 23 and I put all I could get my hands on for the very expensive $208k CANADIAN Crazy

Moved to a new house at 27 for $570k then moved at 30 for $530k Ridiculous