The average age of U.S. homebuyers jumps to 56

Re:The average age of U.S. homebuyers jumps to 56 by runako on Tuesday November 05, 2024 @01:20PM (#42053923)

A lot of reasons! Some I have heard:

- Homeownership comes with responsibilities that people may not want

- They prefer to invest the money elsewhere

- They expect to relocate on timeframes shorter than those that make homeownership a good investment

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Re:The average age of U.S. homebuyers jumps to 56 by doctorpangloss on Tuesday November 05, 2024 @06:47PM (#42056228)

I'm asking, what causes people to buy a house for the first time?

For upper middle class people the answer is probably having a baby, so you can see why if people are having babies later in life when their incomes are higher, prices rise.

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Re:The average age of U.S. homebuyers jumps to 56 by LVTfan on Thursday November 07, 2024 @12:23PM (#42078707)

but the upper middle class is relatively small, depending on how you define upper middle class. Nationally, one might say the 15% who are below the 95th percentile (but locally is what matters for the purpose of buying property, and maybe "upper middle" is 60% to 95% of the local ranking).

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