Starter homes cost $1 million in a record 242 U.S. cities—proof the affordability crisis has hit the homes meant for first-time buyers

They waited out the pandemic boom. They saved longer, rented longer, delayed longer, and watched the typical first-time homebuyer age climb to a record 40 . Now, the buyers who did everything right are running into a new problem: The Northeast just became the fastest-growing region for million-dollar starter homes in the country. It’s especially imperfectly timed for millennials entering their peak household spending years and beginning to form their own families (or at least try to). A Zillow report published in June counts a record 242 U.S.

Source: Fortune Crypto