Ryan Serhant discusses the ‘massive issue’ with America’s housing affordability

Young Americans need to forget the familiar story of, “My dad bought a house for $50,000,” because that world is over — and today’s buyers face a new housing reality where affordability, ownership, and even the American Dream look much different than those of previous generations, says celebrity realtor Ryan Serhant.

“You have to understand that your baseline starts now. We’re not going back anywhere. We’re not going back to the prices and the market that we had in 2021. We’re not going back to 2015. We’re also not going back to 1991,” Serhant told Fox News Digital.

“I think the old baseline of affordability, where a middle-income buyer could reasonably plan to own a home, has disappeared in most parts of the country.”

Last month, the National Association of Realtors released its 2025 Profile of Home Buyers and Sellers, which found that the average age of first-time home buyers has risen to a record high of 40 years — the highest ever recorded. The report attributed this change to limited housing stock and longer savings and search periods.

Ryan Serhant reveals the new real estate reality in America and the biggest transformation in the housing sector in 50 years

The record also reflects a broader demographic shift described by Serrant, with data from the Centers for Disease Control and Prevention (CDC) showing age-specific birth rates rising, with a greater proportion of births now coming to mothers 30 or older.

He continued: “There’s a cost of living for everyone. You either pay rent or you pay property taxes, you know, you pay interest on loans. And certainly, if you’re betting big on the appreciation of the currency, which we do in our business all day, it’s better to own than to rent, but you don’t have to do that. I think the American dream is a happy life defined by growth and success, in whatever way your success is defined.”

“I think the pressure on the new American family is a big problem,” Serhant said. “People can’t afford to buy and sell homes and have kids.” “And I think the demand is still there. First-time homebuyers, as I said, are the strongest market we have right now, fueled in part by baby boomers who are paying cash so their son or daughter can get a home. But I think affordability needs to be redefined.”

According to Serhant, one of America’s top real estate brokers, baby boomers remain the largest homebuyers – often by proxy for their children.

A 2024 study from Intuit Credit Karma supports this view, showing that 44% of potential Gen Z buyers plan to receive financial assistance from their parents to purchase their first home, compared to 16% of millennials.

“It’s the boomers who are buying for the millennials and Generation Z. And a lot of times, they’re the ones sitting at the closed table. And so, you have a lot of young people who live in owned homes, but the 60-year-old bought the home. That brings up the average age,” Serhant explained. “I think more young people are living in homes they own or homes that were purchased for them than ever before.”

As a father, Srant has shied away from the idea that he might one day help his children buy their first homes, but said he understands the desire to get rid of that “stress.”

“My daughter is six years old. I hope she finds out,” he said.

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“My parents could have bought me a house, or an apartment,” Serhant said. “But the moment I finished school, I was 100 percent on my own.” “And what they told me was, ‘You can always go home. If you go home, you’ll have to listen to us and follow our rules. It’s our home. But you will never be homeless. And you will never starve. And you will not die. You can always go home. But if you want to do anything else in your life that doesn’t revolve around living with your parents, that’s on you. We did our part.”

“I wouldn’t be where I am today if my parents hadn’t helped me…but I appreciate that I understand the value of a dollar and how the world works, because I had to figure it out myself.”

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