Why First-Time Homebuyers Are Paying Cash and Skipping Mortgages

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The American dream of buying a first home is increasingly becoming a middle-aged milestone — and for a record number of buyers, it comes without a mortgage.

A record 10% of first-time homebuyers paid entirely in cash over the past year, while the median age of Americans purchasing their first home remained at an all-time high of 40, according to a new report from the National Association of Realtors.