US homebuyers are older and wealthier than ever as campaigns promise housing help

The renter generation… The wooden salad bowl industry must be reeling: housewarming gifts could be in danger. The median age of first-time home buyers in the US rose to a record 38 this year, up from 35 last year. And the median age of all US homebuyers rose to 56 from 49. Fewer than a quarter of purchased homes were bought by first-timers, a four-decade low. Housing affordability has been a big issue in this election, and the fresh housing data is another sign that younger generations are being boxed out of home ownership.

• Older + richer: The median income of first-time buyers climbed to $97K and their down payments rose to 9%, a more than 25-year high. Nearly a third of repeat buyers used cash.

• Racial disparity: 83% of US home buyers were white, up from 81% last year, though more than a third of first-time buyers were non-white.

Four walls, a roof… and a White House. In September, existing-home sales fell to a 14-year low and home prices hit a monthly record (a median of $404K). That has many young Americans — a key voting demographic — feeling dejected that they can’t afford a white-picket fence. To win them over, both the Harris and the Trump campaigns have offered housing solutions. VP Harris has pitched a plan to build 3M new housing units, proposed a $40B fund to jump-start local building, and suggested up to $25K of down-payment assistance for some first-time buyers. Former President Trump has said he’ll open federal lands for housing development, eliminate some regulations to make it easier to build, and bring down mortgage rates (note: presidents can’t directly do this).