California Housing Crisis Exposed: First-Time Homebuyers Delayed Until Late 40s
A new report from the Public Policy Institute of California reveals that Californians are now waiting until their late 40s to purchase their first homes, significantly later than the national average of 37 years. The study highlights that renters in their 30s and 40s outnumber homeowners in the state, with the homeownership rate at 56%, lower than the national rate of 66%. The report also notes disparities in homeownership among different racial groups, with white and Asian residents buying homes earlier than Black and Latino residents. Education is a factor, as those with bachelor's degrees tend to own homes sooner. 
