September 28, 2024

Housing

Nice News -  Buying a home as a young person is hard right now, and seemingly getting harder. The median age of first-time homebuyers in 2023 was 35, up from 31 in 2013 and 29 in 1981, the National Association of Realtors reported last year.

But some have found a way to make their homeownership dreams come true, and it all hinges on teamwork: Millennials and Gen Zers are increasingly turning to co-ownership. Niles Lichtenstein, who launched a company called Nestment that provides guidance for the homebuying process, told CBS News that co-owning is a great way to offset the “incredibly large gap” between wage increases and home price increases.

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