Summary
Older Americans now own more real estate wealth than middle-aged Americans, according to a Redfin report. Rising home prices and borrowing costs have made it harder for younger generations to buy homes.
Key Facts
- Americans aged 70 and over own 26% of the nation's real estate wealth.
- Middle-aged Americans (40-54) own 25.9% of the nation's real estate wealth.
- Americans aged 55-69 hold the largest share at 35.3%.
- Home buying is increasingly challenging due to higher home prices and mortgage rates.
- The average age of U.S. homebuyers has risen from 39 to 59 in the past 15 years.
- Baby Boomers believed buying a home was easier in their youth compared to today.
- Younger Americans are expected to receive significant wealth inheritance from Baby Boomers by 2045.
