As the share of first-time homebuyers hovers at its lowest level in nearly three decades, real estate professionals remain optimistic that homeownership is due for a comeback.
Read More »Housing Confidence Heats Up, But Expectations Remain Cool
Two of the three component sub-indices improved through the summer: the measure of current market trends and conditions rose more than half a point to 62.7, while the measure of homebuying plans and attitudes toward homeownership climbed more than two points to 62.4.
Read More »Report: Millennials Can Still Make a Difference In Housing
That gain in younger household formations is expected to translate to $1.6 trillion spent on home purchases and $600 billion spent on rent in the next few years—more on a per-person basis than any other generation.
Read More »High Negative Equity Among Gen-Xers Causing Housing Gridlock
Nearly 43 percent of homeowners between 35 and 49 are underwater on their mortgages. In contrast, only 15 percent of millennial homeowners (those between 20 and 34 years old) and 31 percent of baby boomers (50 to 64 years old) are underwater.
Read More »Economic Woes Cited By Parents of Home Bound Millennials
Experts have surveyed the young generation again and again as to why they are staying with their parents, but now Fannie Mae has completed a survey of the parents they live with. As it turns out, more than half of them don't mind their children living at home.
Read More »Millennials Continue to Delay First Home Purchases
As homeownership keeps slipping among young American adults, real estate analysts expect the makeup of first-time homebuyers could look very different over the next 10 years.
Read More »Millennials are Heading to Suburbia
Analyzing data from the United States Census, Trulia's chief economist Jed Kolko found that the population growth of millennials in big, dense cities was outpaced by big-city suburbs and lower-density cities. Kolko also found that baby boomer growth in big, dense cities also fell short of growth in the big-city suburbs.
Read More »Harvard: Housing Recovery Hinges on Millennial Participation
Millennials are so hot right now. Advertisers spend sleepless nights wondering how to associate this “cool” generation with their products and services. In their annual “State of the Nation’s Housing” report, the Joint Center for Housing Studies of Harvard University suggested that participation in the housing market from the segment of the population age 18 to 34 is also the key to a robust housing recovery.
Read More »Mortgages Suffer from Misconception about Down Payments
There's a pervasive view held by younger consumers when considering whether to purchase a home or not, according to Freddie Mac's Christina Boyle. She believes that consumers persistently overestimate the size of a down payment they need in order to finance a home, and this lack of education is harming the housing market.
Read More »Millennials Use ‘Bank of Mom and Dad’ for Down Payment Help
According to a consumer survey conducted by Trulia, 60 percent of American adults age 18–34 say a lack of savings, poor credit, and severe debt stand between them and homeownership. As a result, 50 percent would have to ask for help from their parents or grandparents to put together enough money to clear the initial hurdle of making a down payment.
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