Homebuyers are now the oldest and wealthiest in history

Record prices and mortgage rates make U.S. homeownership a challenge, with the average buyer age at 56 for the first time.

Buying a home used to be considered a rite of passage for many Americans. However, these days, the financial challenges of buying a home are simply too great for more and more individuals — and especially families. That difficult truth was exposed in a new report from the National Association of Realtors released this week.