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In those places the wages are also considerably lower. The 2/3 are not the people buying, it's the people inheriting existing property: First-Time buyers only m
by mattalex 4y ago
In those places the wages are also considerably lower. The 2/3 are not the people buying, it's the people inheriting existing property: First-Time buyers only make up 33% of home owners.
- zdragnar 4y agoConsidering how long the average family stays in a home without moving, the first time buyer number sounds about right, sans the inheritance bit. I don't know of anyone who kept a home passed on by their parents except for cottages and cabins in the woods. Those typically aren't meant for year round residence anyway.