There’s a lot of financial sense in the decision not to buy a starter home. Taxes, closing costs and repairs will eat into your profits, even as your home increases in value.
Americans are waiting longer than ever to buy their first home. According to Zillow, Americans are now an average of 33 when they decide to buy. But is this a conscious decision or just a lingering effect of the crushing impact the 2008 economic crisis has had on this age group? Some data suggests this is perhaps part of a larger shift in homeownership trends. The Census Bureau reports that homeownership is at a 48-year low, with only 63.4 percent of Americans currently living “the American dream.”