{"id":427770,"date":"2026-08-09T02:20:11","date_gmt":"2026-08-09T02:20:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ca\/427770\/"},"modified":"2026-08-09T02:20:11","modified_gmt":"2026-08-09T02:20:11","slug":"california-housing-crisis-laid-bare-in-shocking-new-report-revealing-age-of-first-time-homeowners-2","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ca\/427770\/","title":{"rendered":"California housing crisis laid bare in shocking new report revealing age of first-time homeowners"},"content":{"rendered":"

The majority of Californians are now waiting until their late 40s to buy their first homes<\/a> \u2014 about a decade later than the average American, according to a new study.<\/p>\n

The shocking analysis from the Public Policy Institute of California<\/a> found that while half of young adults in the rest of the US own their first home by age 37, that number rises to 47 in the Golden State<\/a>.<\/p>\n

The majority of Californians are now waiting until their late 40s to buy their first homes. Getty Images<\/p>\n

In California, renters in their 30s and a most of their 40s outnumber owners \u2014 with the age steadily rising over the past 15 years.<\/p>\n

Half of Californians used to own their homes by 39, but that age has jumped to 47, following the state\u2019s continued rise in costs for homeownership<\/a>.<\/p>\n

This leaving homeowners with fewer years to build equity before retirement. In many cases, Californians are still paying a mortgage in their 60s and 70s.<\/p>\n

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In California, renters in their 30s and a most of their 40s outnumber owners \u2014 with the age steadily rising over the past 15 years. Getty Images<\/p>\n

Adding to the Golden State\u2019s woes, the 56% homeownership rate overall in California is much lower than in the rest of the country, which has a 66% share. Only New York has a lower rate, at 54%.<\/p>\n

White and Asian Californians tend to own their homes much earlier than black and Latino residents, the study found.<\/p>\n

US-born Asians reach homeownership at the youngest age, while Black adults and Latino immigrants are the oldest. <\/p>\n

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It\u2019s often the case now that many Californians are still paying off their mortgage much later in life. Vlad \u2013 stock.adobe.com<\/p>\n

Education is also a factor. Californian\u2019s who have their bachelor\u2019s degree own their home earlier than those who don\u2019t. <\/p>\n

To help improve this gap, this fall, voters will decide on a proposition that aims to ease down payments for first-time buyers. Expanding the housing supply and providing additional support to those who face major homebuying barriers are also part of ongoing policy conversations. <\/p>\n

The Public Policy Institute used recent American Community Survey data to track homeownership rates by age. <\/p>\n

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