Those factors have gatekept the housing market from many first-time home buyers, who are typically younger generations like Gen Z and millennials. In fact, the housing market has become so unaffordable for these buyers, the number of first-time home buyers shrank to a historic low. To put it in perspective, the number of first-time homebuyers in 2004 was nearly 3.2 million, according to NAR data shared with Fortune on Tuesday. By 2024, that number had plummeted to just 1.14 million. And many realtors and real estate experts don’t expect this…
اكمل قراءة المقالGen Z and millennials can’t afford to buy a house, and it shows: The number of first-time homebuyers is half the historical norm
