Millennials waiting longer - Only 21% have done it.

Millennials waiting longer - Only 21% have done it.

Owning a home that is.....What did you think I was talking about? 

With only 21% of Millennials owning their own home, they should be the driving force of our real estate market, but instead, they are living with friends or parents and aren't making any plans for buying in the near future.

Are Millennials real estate's 'saviors' or are they going to be tenants all of their lives?

Personally, I only have one Millennial couple/friend that already owns their own home.  Obvioulsy, I've sold homes to many Millennial clients, but within our sphere of influence, that's it.  

I've spoken to our young friends about buying and most don't have the down payment saved.  Their parents are just now getting their equity back in their homes, if they didn't do a short sale and are renting as well.  Where will the Millennials get their down payments from?

What are you seeing in your Sphere of Influence?