Todd Polke warns that first-time homebuyers are now 36 on average, up from younger ages, and the share buying in their 40s has doubled. He argues this threatens generational wealth and urges parents to act now so their kids can afford homes.
Creating intergenerational wealth is something I'm big on, but I also think it's incredibly important because one of the things that I've noticed is that it's becoming more and more unaffordable, isn't it? Who's genuinely concerned? Now your kids will really be fine, but who's genuinely concerned about how their kids are gonna be able to afford to buy a home in the next 5 to 10 years? Is anyone genuinely concerned? I think first home buyers are gonna be something you see in a museum. You're gonna walk in a museum and go, oh, there's those first home buyers that I once heard about, right? That's what I think's gonna be happening. It's becoming more and more unaffordable for kids to be able to get into their own home. What's the average age of the first home buyer now? 36. 36 years old. The number of first home buyers who are now in their 40s doubled in the last 3 to 4 years alone, doubled. You think about the next 3 to 5 years, what's gonna be happening? And that's when I think about intergenerational wealth. What can you do right now that's gonna support future generations?
