05/20/2025
Geriatric boogaloo.
The median age of homebuyers has shot up the last few years. Younger buyers can't pony up the cash to compete with households that are downsizing or rolling the equity of a prior sale into the purchase of a new home. This has contributed to a "locking out" of younger buyers. It has lead to delays in getting married, household formation, starting families, and getting the whole white picket fence thing going.
What I find interesting is that for a lot of these older buyers they are coming from homes that they bought 15-20+ years ago back when the median age was considerably lower. That makes sense though because if they were younger then and that's when they bought the home then obviously duh median age = lower than today. The thing is, that says that the group that has had the greatest degree of mobility and freedom to purchase and move has been the same generation today that it was back then.
Don't get me wrong I don't think we should grind old people into soylant (Depends on the old person in question TBH) but it's a little disheartening for younger generations to feel locked out of the home buying process simply because they were born at the wrong time. That doesn't mean it isn't possible to find something TODAY though because I got a couple first time home buyers under contract uhhh ::checks watch:: about thirty minutes ago, but it has made the market tilted in favor of boomers.
