Record share of first-time homebuyers pay cash as wealth gap widens
A new report shows generational wealth is creating divisions in the housing market, with fewer first-time buyers entering at increasingly older ages.
At a glance
- Record share of first-time homebuyers are paying all cash for properties
- Median age of first-time buyers remains at a record high
- Generational wealth is widening the gap between homebuyers and those unable to afford homes
A new report reveals that while first-time homebuyers remain scarce, a record proportion of them are purchasing properties with cash payments. The median age of first-time buyers has also reached a record high.
The findings suggest that generational wealth is widening the divide between those able to purchase homes and those priced out of the market.
Why it matters
The trend indicates that access to homeownership is increasingly dependent on existing wealth rather than income, potentially affecting long-term economic mobility and wealth accumulation.
Original reporting
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