The latest data is a bit heartbreaking – the median age of first-time homebuyers in the U.S. has jumped to 40 years.

What concept? In 2021, this number was still 33 years old, and going back to 1981, it was only 29 years old. In just a few decades, the threshold has been raised significantly.

What’s even more exaggerated is that first-time homebuyers accounted for only 21% of the total transaction volume last year, the lowest in history. In contrast, those seasoned buyers who are purchasing for the second or third time? The typical age is 62, with a median down payment of 23%—the highest level since 2003.

Housing prices have soared to the sky, and mortgage rates have also taken off. Young people want to get on board? They are basically locked out. The housing affordability crisis in the United States is becoming increasingly severe.