Around 10.8% of homeowners in the Raleigh metro area are under 35 years old, compared to roughly 10.7% nationally, according to the latest data from the U.S. Census Bureau.

Why it matters: U.S. homebuyers are now the oldest on record, with the median age of first-timers reaching 38, per a recent report from the National Association of Realtors.

• That's up from 35 last year and marks a new high in NAR data, going back to 1981.

By the numbers: The share of homeowners who are under 35 in the Raleigh metro area has fallen in recent years.

• In 2019, about 11.7% of area homeowners were under 35.
• In 2012, it was 12.5%.

The big picture: Steep housing prices and elevated mortgage rates push homeownership out of reach for many.

Zoom in: Interest rates have affected affordability in the Triangle, despite the area seeing rising incomes, Matt Fowler, executive director of Doorify MLS, wrote this summer.

• "The real problem is rates when compared to house prices and income," Fowler said. "They moved up much faster than" incomes increased and home prices decreased.
• Doorify's affordability index for the Triangle — including Wake, Durham, Orange, Chatham and Johnston counties — is still worse than it was at the start of the COVID-19 pandemic. It currently sits at 75 and was at 142 in March 2020. (Note: a housing affordability index of 100 would mean that the area's median household income is 100% of what's necessary to afford a median-priced home with interest, the report says.)

The intrigue: The median age of repeat home purchasers rose to 61 from 58 last year, per the NAR report.

What's next: Younger people are increasingly banking on family money for down payments, Redfin research shows.

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Saint Augustine's University, a historically Black college near downtown Raleigh, has entered into a partnership with a sports and mixed-use development company as part of effort to address its severe financial challenges.

Why it matters: Details on the what the partnership with 50 Plus 1 Sports entails are still unclear, though WRAL reported that an audit the school performed mentioned leasing part of its campus to a developer to increase revenues.

• Neither the school nor Miami-based 50 Plus 1 Sports responded to a request for comment. Saint Augustine's said it will hold a press conference on the partnership in December.

Driving the news: Saint Augustine's revealed the partnership last week, saying it could generate up to $70 million in revenue for the school.

Zoom in: 50 Plus 1 Sports says on its website it was founded on a commitment for its projects to include at least 50% participation from minority- and women-owned businesses.

• The company has a limited track record, though it did submit a bid to redevelop Tropicana Field in St. Petersburg, Fla., according to the Tampa Bay Times.
• The company didn't win that bid, the Times reported, with city staff noting that it had little experience developing mixed-use districts.

Catch up quick: Saint Augustine's, founded in 1867, has faced steep financial shortfalls, enrollment declines and accreditation issues in recent years, including instances when it couldn't pay its faculty and was forced to switch to online-only instruction.

• It recently cut half of campus jobs to reduce expenses.
• It's also taken on a $7 million loan from Gothic Ventures to stay open — though alumni have protested the loan's 24% interest rate and use of the school's property to secure it.

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🍻 The Raleigh City Council could consider adding a social district to the Village District shopping district in January. (Raleigh Magazine)

🚗 VinFast said it is on track to meet its goal of delivering 80,000 vehicles this year and is seeing record sales in North America, though it did not reveal a specific number. (Reuters)

• The company, which hasn't yet started construction on its North Carolina factory, is set to open a factory in India next year and get $3.4 billion in more funding from its parent company Vingroup.

🛍️ CommunityWorx, a 72-year-old thrift shop in Carrboro, received a financial lifeline days before a scheduled foreclosure sale, after the Shared Visions Foundation bought the property. (News & Observer 🔒)

Golf Golf Golf, an indoor golf club and lounge started by Sam Ratto, the co-owner of Videri Chocolate Factory, will open in downtown Raleigh today.

What to expect: Golf Golf Golf is inside a 1,500-square-foot building at 605 New Bern Ave.

• It will have two hitting bays with Trackman golf simulators, an indoor putting green, as well as a bar and outdoor patio.
• Non-member rates will be $35 per hour until the end of the year, and then they will increase to $40 an hour for one person, $50 for two and $75 for three.

What they're saying: Ratto told Axios over the summer that he wants the location to feel like a municipal golf course with skate/record shop vibes with wine, beer and spirits. Players can bring or cater food.

• "Whether you're an expert golfer or you're interested in learning or you're just interested in coming and hanging out at one of our events — you don't have to be a golfer to hang out here," Ratto tells Axios.

Hours: Monday through Saturday, 10am-10pm. Sunday, 10am-8pm.

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Paint companies and home designers say 2025 will be the year of bold colors returning to homes.

• But, at least for now, U.S. consumers are still obsessed with shades of blue and gray, according to what Behr says are the most popular paint colors purchased in each state.

Zoom in: North Carolina's top Behr color this year was Adirondack Blue.