Celeb actual property dealer Ryan Serhant says younger People have to overlook the acquainted story of “my dad bought a house for $50,000,” as a result of that world is gone — and in the present day’s consumers are going through a brand new housing actuality the place affordability, possession and even the American dream look far totally different from these of earlier generations.
“The old baseline of affordability where the median-income buyer could reasonably plan to own a house, I think, is gone for most of the country.”
Final month, the Nationwide Affiliation of Realtors launched its 2025 Profile of Dwelling Patrons and Sellers, which discovered the median age of first-time homebuyers rose to a document 40 years previous — the best ever recorded. The report attributed the change to restricted housing stock and longer saving and search intervals.
RYAN SERHANT EXPOSES AMERICA’S NEW REAL ESTATE REALITY AND THE BIGGEST HOUSING SHIFT IN 50 YEARS
The document determine additionally displays a broader demographic shift Serhant described, with information from the Facilities for Illness Management and Prevention (CDC) displaying age-specific start charges have risen, as a bigger share of births now come from moms age 30 or older.
Ryan Serhant attends the “Owning Manhattan” Season 2 premiere at Terminal 5 on December 5, 2025, in New York Metropolis. (Getty Pictures)
“There is a cost of living for everybody. You’re either paying rent or you’re paying property taxes, you know, you’re paying interest on loans. And sure, if you’re making a big bet on appreciation, which we do in our business all day long, it is much better to own than it is to rent, but you don’t have to. I think the American dream is a happy life defined by growth and success, in whichever way you determine your success,” he continued.
“I think the strain on the new American family is a massive issue. And people can’t afford to buy houses, sell houses, have kids,” Serhant mentioned. “And I think that, yes, demand remains. First-time homebuyers, like I said, are the strongest market we have right now, in part fueled by baby boomers who are paying cash so their son or daughter could have a house. But I think affordability needs to be redefined.”
In response to Serhant, considered one of America’s high actual property brokers, child boomers stay the most important homebuyers — typically by proxy for his or her youngsters.
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A 2024 examine from Intuit Credit score Karma helps that view, displaying 44% of Gen Z potential consumers plan to obtain monetary assist from their dad and mom for his or her first dwelling, in comparison with 16% of millennials.
“It’s boomers buying for millennials and Gen Z. And oftentimes, they’re the ones at the closing table. And so you have a lot of young people living in houses that are owned, but the 60-year-old bought the house. That brings the median age up,” Serhant defined. “I think more younger people are living in homes they own or homes that were bought for them than ever before.”
As a father himself, Serhant distanced from the concept that he may in the future assist his personal youngsters purchase their first houses — however mentioned he understands the will to take that “stress” away.
“My daughter is six. I’m hopeful she’ll figure it out,” he mentioned.
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“My parents could have bought me a house, they could have bought me an apartment. But the minute I finished school, I was 100% on my own,” Serhant mentioned. “And what they told me was, ‘You can always come home. If you come home, you’re gonna have to listen to us and follow our rules. It’s our house. But you’ll never be homeless. You’ll never starve. You’re not gonna die. You can always come home. But if you want to do anything else with your life that does not revolve around living with your parents, that’s on you. We’ve done our part.’”
“I would not be where I am today if my parents hadn’t helped me … But I do appreciate that I understand the value of a dollar and how the world works, because I had to figure it out on my own.”
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