ROCHESTER, N.Y. — The average age of a first-time homebuyer is now 40, meaning many won’t pay off their mortgage until they’re 70. Chief Investigative Reporter Berkeley Brean finds the situation is even tougher for those in their 20s and 30s.
Berkeley Brean, News10NBC: “I want you to finish this sentence. 20 and 30 year olds buying a home right now is?”Mark Siwiec, Elysian Homes: “Impossible.”
Mark Siwiec, Elysian Homes: “I bought my first home at the age of 25. That was back in 1990. You could still do so. And as a result of having done so, I created economic certainty and security for myself. And that in turn helps to create national economic security. And that has been taken from 20 and 30 year olds.”…