First-time homebuyers are an endangered species in the U.S.

The dream of homeownership is increasingly elusive for many Americans, with only 24% of housing sales last year attributed to first-time buyers, down from 50% in 2010, and the average age of purchasers rising to 38. Rising home prices, low inventory, and high mortgage rates are significant barriers, as well as the increasing financial pressures from rent, debt, and student loans. This situation deprives many potential homeowners of the opportunity to build wealth through real estate, with only 1 in 5 homes affordable for those earning $75,000 annually.

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