In the Biden-Harris era the average age of a homebuyer has soared to 56 years of age, proving that young people are almost entirely eliminated from being able to afford to buy into the American dream.
Not only is this bad, it is a huge jump even from the bad number seen just a year ago, when the average age was 49.
Folks, at 49 you are on the downward slope of your life and career and it is generally long past you child bearing years. And at 56, you are supposed to be grandparents who are already considering downsizing!
But these are the ages people are buying homes because at these ages the larger number of Americans have also reached an economic plenty that can allow them to put such a large amount into a purchase of an item.
This, though, proves that Joe Biden and the Democrat Party has practically destroyed the dream of couples in their late 20s or early 30s who want to buy a home in which to raise their kids.
Per CNBC:
The median age of first-time buyers also rose from 35 to 38, while the share of first-timers dropped from 32% to 24% of all buyers for the year ending July 2024. That marks the lowest percentage since NAR started tracking the metric in 1981.
“In my two decades in the mortgage business, I’ve never seen a more difficult time for millennials to purchase a home,” says Bob Driscoll, senior vice president and director of residential lending at Massachusetts-based bank Rockland Trust.
That’s largely due to rising homeownership costs, he says. The median U.S. home price is now $435,000, per NAR — up 39% since 2020 — while the average 30-year fixed mortgage rate has more than doubled to over 6% in that time.
Joe Biden and Kamala Harris are thoroughly destroying this country, folks.
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