I recently came across an eye-opening chart by the National Association of Realtors showing that the median age of first-time U.S. homebuyers is now 38 years old. That’s a significant jump from 30 years old between 2008 and 2010. Meanwhile, the median age for repeat buyers has risen to 61 years old.

What is going on here?

These numbers astound me because life is far too short to delay buying a home for that long. Most people buy their first home with the intention of settling down. Yet if you’re only making this commitment at 38, you may not get to enjoy homeownership in the way you had envisioned.

I understand that rising home prices and high mortgage rates are the main factors contributing to this trend, making affordability harder. However, this post is not targeted at those where affordability is their main issue.

Instead, this post is

Keep reading this article on Financial Samurai.

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