First-Time Homebuyers Navigate Affordability Crisis Through Family Help and Regional Relocation
The median age for first-time homebuyers has reached a record 40, underscoring the deepening affordability crisis in housing. Despite soaring prices and limited inventory, some buyers are breaking through—leveraging family financial support or targeting lower-cost markets.
Homeownership rates for under-35s remain depressed at 37.5%, a sharp decline from pandemic-era peaks. 'Delayed homeownership devastates wealth-building,' warns NAR’s Shannon McGahn, noting a typical $150K equity loss for those who buy at 40 instead of 30.
While mortgage rate dips and inventory gains offer marginal relief, the market remains structurally hostile to new entrants. Those succeeding often combine intergenerational wealth transfers with geographic flexibility—a patchwork solution to a systemic problem.
