The decline in first-time homebuyers signals a seismic shift in the traditional American economic engine. As younger generations, especially Gen Z, shy away from ownership, the ripple effects threaten to stall economic growth, impacting industries from construction to finance. With an $84 trillion wealth transfer looming due to aging baby boomers, the housing market faces a potential 'silver tsunami'—a flood of empty nesters releasing properties into an already saturated supply.
This scenario could intensify economic instability, reduce consumer spending, and alter political priorities centered on economic mobility and property rights. Politically, this shift may embolden policies favoring rentership or government intervention, challenging the core principles of wealth accumulation and intergenerational transfer. As housing remains a key indicator of economic health, policymakers will need to navigate these demographic upheavals carefully, balancing market stability with economic opportunity, especially for future voters and taxpayers. Read the full story at the source.
