Depressing statistic that we need to fix

[jon-nyc]

By the way I was 55 when we went into contract last summer but was 56 by the time of the close in September.

[LuFins Dad]

@jon-nyc said in Depressing statistic that we need to fix:

By the way I was 55 when we went into contract last summer but was 56 by the time of the close in September.

We definitely have problem with young people buying or being able to buy houses, but let’s not just pretend that’s the only reason or necessarily the primary reason.

In 1981, most 56 year olds were in the one and only house they would ever buy. They bought the house when they were 31, and would stay there until they died (which statistically was only a few years away). A 56 year old today likely bought a place in his early 30’s, then traded up in their early 40’s with a new job, then will downsize in their later 50s, and likely buy an assisted living house/condo plan in their 70s to 80s.

Then you have guys like my father in law and Larry, that bought a house for every new wife, and that’s around 5-6…

[Axtremus]

What were the median ages of buyers in periods prior to 1981?

[89th]

It doesn't get go to 1981, but here is a chart with 2 more categories, first time, and repeat...

[jon-nyc]

I bought in 93 for the first time. I was 25.

Subsequent purchases at 33, 44, and 56. I’m probably done unless we leave the area altogether.

[89th]

Oh man you were so closed to a nice pattern when you were 55! 33-44-55... at least you were under contract.

I first bought (condo) at 27, then a single family home at 39. I have no plans on leaving this house, hopefully until I'm in my 80s.

[Doctor Phibes]

1995 age 31, then 1999, 2003, and 2022

I really hope we're done with it, however I suspect the current Mrs. Phibes of scoping out old people's homes just in case.

[jon-nyc]

My first two were condos, last two were houses.

[Renauda]

First house in June 1985. I had just turned 29.

[mark]

First of two houses purchased in 1987. I had just turned 25. Second house purchased in 1998. I will probably die here unless the current wave of development around me pushes my home value closer to 1 million. If someone wants to give me a million for this place I would most likely take it, spend around half on a downsize, and pocket the rest.

[Horace]

I've had too many houses to remember. Bought my first at age 13, with proceeds from the street crime organization I headed. I had 3 children at the time, and raised them all there.

[jon-nyc]

Your next house will be in a Salvadoran prison.