The average age of homebuyers in the US is now 56
The median age of first-time buyers is 38 (up from 34 last year)
The share of first-time buyers dropped from 32 to 24%
The median home price is now $435,000, which is up THIRTY NINE PERCENT since 2020
This is so astoundingly fucked
@chartier
1. The commodification of housing by private equity hedge funds. Blackrock. Blackstone.
https://www.cnbc.com/2023/02/21/how-wall-street-bought-single-family-homes-and-put-them-up-for-rent.html
https://www.washingtontimes.com/news/2024/mar/15/in-shift-44-of-all-single-family-home-purchases-we/
https://slate.com/business/2021/06/blackrock-invitation-houses-investment-firms-real-estate.html
2. Money laundering using residential housing. Housing is a safety deposit box for the corrupt & criminal.
https://www.occrp.org/en/news/report-us-real-estate-is-no-1-destination-for-laundered-dirty-money
https://www.bloomberg.com/news/articles/2024-04-05/organized-crime-is-laundering-money-through-european-real-estate
https://www.thenationalnews.com/business/property/2024/08/25/blackrock-partners-with-saudi-arabia-to-develop-kingdoms-property-finance-market/
https://www.businesstimes.com.sg/property/saudi-arabia-taps-blackrock-build-mortgage-backed-securities-market
https://www.realtor.com/news/celebrity-real-estate/saudi-princes-11-8m-virginia-mansion-under-contract/
3. Price fixing of rents reduce capacity to save for a home
https://www.dailykos.com/stories/2024/6/5/2244971/-FBI-raid-on-real-estate-company-linked-to-Harlan-Crow-s-RealPage-rental-price-fixing
@chartier
1. The commodification of housing by private equity hedge funds. Blackrock. Blackstone.
https://www.cnbc.com/2023/02/21/how-wall-street-bought-single-family-homes-and-put-them-up-for-rent.html
https://www.washingtontimes.com/news/2024/mar/15/in-shift-44-of-all-single-family-home-purchases-we/