The housing affordability crisis isn't just crushing millennials—it's squeezing out buyers in their 40s, 50s, and beyond, too.

The article focuses on the persistent decline in homeownership rates across all age groups in the United States, despite the average age of first-time homebuyers remaining in the mid-thirties over the past two decades. Data from the Federal Reserve Bank of New York and the American Enterprise Institute's (AEI) Housing Center reveal that affordability challenges, driven primarily by the growing gap between median home prices and household incomes, are affecting potential buyers of all ages and income levels. The AEI study highlights that lower- and middle-income families are increasingly excluded from homeownership, while wealthier households capture a larger share of the market. To address this issue, the article discusses proposed solutions such as easing zoning restrictions to increase the supply of smaller, more affordable starter homes, which could reduce prices by 15% to 20% and improve access for a broader range of buyers. [Extracted from the article]