As the Zillow Market Trends Blog puts it, “who needs a spouse to buy a first house?” Only 40 percent of first-time buyers today are married, compared to 52 percent in the late 80s.
In addition, the typical first-time buyer’s age, 33, is three years older than the typical buyer in the 1980s.
“In many cases, they’re spending those extra years saving for a down payment that will cover a relatively hefty mortgage,” Zillow reports. “Although homeownership is now more affordable than renting on a monthly basis, it still costs considerably more than it used to.”
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