Springfield, IL (CAPITOL CITY NOW) – A financial rite of passage is no longer for the young.

“The average first-time homebuyer last year was forty years old. Forty,” said State Sen. Erica Harriss (pictured) (R-Glen Carbon). “And only 21 percent of homes were purchased by first-time buyers. That’s really how tough it has become to break into the market.

“People across the entire state are facing a shortage of houses that are available, and young people are finding it harder and harder to enter that market,” Harriss continued. “Our housing is more expensive, property taxes are up, so this is definitely a statewide issue.”

Harriss Wednesday announced a package of legislation to help. One bill is called the “Welcome Home Illinois Tax Credit.” It’s a five-year $500 non-refundable tax credit for first-time homebuyers. Another is the “Fairness in Property Tax Foreclosure Task Force.” Harriss says the foreclosure system is “antiquated.”