I'd imagine part of it is younger people are refusing to move. You're high as giraffe pussy if you think im giving up my 3.49% intrest rate.

ill be dead before i pay it off

This is home buyer with a mortgage or is this home owner no mortgage? I think I got in my first home with mortgage 24 or 25 years old but with my in laws as a guarantee on our loan we would have had to wait years longer for it to. We are now building a house after buying and selling two houses giving us a 200k deposit for the third one but over that time our first house was 319000 second 493000 and now building for around 900000 we live in a coastal area that nearly every house is over 1mil so building was our cheapest option to be in the area . And paying any of this mortgage off is going to take a long time

What makes me think the most here is how 31 years old is the perfect age to buy a home to raise kids in. While 56 is the age where my own kids are or are soon to raise my grandchildren.

Obviously we're talking about medians and not specific people here...

I think the younger people have more appetite for better returns elsewhere and buying a property means they block their wealth.

Increased regulation makes it more difficult, expensive and in some cases impossible to build new houses. Of course the money printing causes assets like land and buildings to increase in price in terms of the devalued money.

Between these two I'd say you've covered most of the reason for this graph.

Another graph which would be relevant to show here would be median income / median house price.

I happened to come across some info recently about house prices in the past in my region.

In the 1920s house was bought for 27k of the monetary units of the country I'm in today. At the turn of the millenium when the euro was introduced the exchange rate between the euro and that monetary unit was 1:40. So 27k of these monetary units, had they been saved, would have been exchangeable for about 700 euros at the turn of the millenium 70 to 80 years later.

Luckily the median wage at the time was also mentioned. That was about 5000 of the monetary units per year. So at that time the cost of a house for most people was between 5 and 6 times yearly wages.

Now let's compare to current day situation where I'm at. If the median net income is about 30k (that may be a little high actually) euros per year, houses would have to cost around 180k euros to have the same ratio. These prices can be found in some regions of the country but not near where that house was sold in the 1920s. Today you wouldn't find anything for much lower than 600k. So that's about 20 years worth of pay.

The factors I mentioned in the beginning would be most responsible in my view. Inflation taking away the purchasing power of your money Regulation increasing the cost of housing and reducing the supply of houses

Interesting stats.

Show me the incentives and I’ll show you the $. So sad!

Lol they figure they'll be dead anyway so just pass that payment on to the life insurance policy or the kids YOLO