Boomers and the Silent Generation are poised to transfer more than $80 trillion to younger generations over the next two decades, largely through inheritances, down-payment gifts, and all-cash purchases. That capital will substantially accelerate homeownership among Millennials and Gen Z and keep liquidity flowing through housing markets. The median age of first-time buyers has risen to a record 38 years, reflecting affordability constraints that delayed many households. A modest mortgage-rate decline from about 7% to the mid-5% range could boost buying power roughly 10%, returning sidelined buyers and lifting transaction volume. Recent signs include year-over-year price declines for new single-family homes and elevated resale price cuts.
Think of it like this: after World War II, the GI Bill and new suburban construction launched one of the greatest wealth-building periods in U.S. history. Today, we're about to witness something even larger. Boomers and the Silent Generation are poised to pass down more than $80 trillion in wealth over the next two decades. Much of it will arrive as inheritances, down-payment gifts, and all- cash purchases.
The median age of first-time homebuyers has climbed to a record 38 years old, up from 35 just a year ago and well above the late-20s norm of past decades signaling that affordability constraints are adding years to the timeline for entering the market. As the NAR puts it, the median first-time homebuyer has reached an all-time high age of 38 years old. Millions are waiting for affordability to improve.
Demand isn't gone, it's stacked and waiting to be unleashed. What happens when millions of households who've been forced to delay moving suddenly see rates dip or prices soften just enough to act? What if both of these things happen at once? A modest rate shift from 7% to the 5-handle could boost buying power by roughly 10%. As rates ease, buyers currently sidelined will return, lifting transaction volume.
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