DEVELOPING: Housing Market Crisis: Would-be Buyers Shut Out in Record Numbers

Breaking News: Housing Market Crisis Deepens as Would-be Buyers Shut Out in Record Numbers A record low number of first-time homebuyers have entered the housing market in the last year, according to a new report from the National Association of Realtors. The report reveals that the share of homes sold to first-time buyers has plummeted, with the average age of these buyers now 40, an all-time high. The National Association of Realtors attributes this trend to high prices and high mortgage rates, making it increasingly difficult for people to get a foothold in the housing market. The association's deputy chief economist, Jessica Lautz, notes that the market has shifted significantly, with the average buyer now aged 59, compared to a younger couple that was initially considered for the cover of the report. This shift has significant implications for the housing market, as first-time buyers are often the driving force behind economic growth. The current market conditions are expected to continue, with experts warning of a potential long-term impact on the economy. The National Association of Realtors is set to release more details on the report, including data on the current state of the housing market and potential solutions to address the crisis. This is a developing story, and we will continue to provide updates as more information becomes available.