The median first-time homebuyer in the U.S. in 40 years old, which is a record high. One of the main reasons is that Millennials typically delay ownership by about 7 years, and Gen Z only have a 26% homeownership rate by their late 20s, far behind previous generations.
A growing financial strain

These younger Americans are facing a perfect storm of financial challenges: rising student loan balances, high-interest credit card debt, and escalating living costs. These pressures are not only delaying homeownership but also reshaping life milestones.

• Student loan burden: Average balances have surged to nearly $38,000, and for details ⇒

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