millennials: Solutions Exist for the Home Buying Challenges Millennials Face
- 10/07/19 07:42 AM
Are You a Millennial Hoping to Buy a Home?Solutions Exist to Address the Challenges You Face It's no secret ... Today's younger generation is finding it much more challenging to buy a home than their parents did. That's troubling and sad, as 9 out of 10 millennials report they want to buy a home. A recent revealing survey released by Apartment List shows that:
1. Only 4.9% of those millennials (those born 1981-1996 (22 to 37 years old) that want to buy a home say they will achieve their homeownership goal within the coming year 2. Around 34% of those hoping to buy a home believe they'll have to wait over 5 years to do so
The culprits robbing these young people of … (30 comments)
millennials: What a New Millennial Survey Teaches Us ...
- 08/29/19 09:49 AM
What a New Millennial Survey Teaches Us ... While Millennials are currently reported to be buying homes at a faster pace than in the past, many of those that wish to buy are presently being stymied ... What is it that Millennials feel stand in the way of their home buying dreams? And what number feel that they are fundamentally incapable of buying? A survey conducted by LendEDU attempts to shed some light on these questions. The June 2019 survey indicates that while many Millennials long for homeownership, nearly 90% of non-homeowning Millennials hoping to buy have not done so yet. Why not? Most taking the survey indicated that their student loans were/are the biggest deterrent to taking this big … (26 comments)
Have Student Loan Debt? A Solution May Exist For You
I'm sure you've seen these headlines or others like them ...
"Debt-Locked: Student Loans Force Millennials to Delay Life Milestones" "Yes, student debt is delaying homeownership"
"Student Debt May Prevent Some Americans From Buying Homes" It's a sad fact. Student Loan Debt is a huge concern for many consumers in the present economy. And because of that, it's become a huge concern for the commercial and governmental sectors too. Rightfully so. In a previous article, "Student Loan Debt Guidelines Simplified by Fannie Mae", I spoke of Fannie Mae, (the GSE, Government Sponsored Enterprise that oversees and ensures mortgage liquidity and guidelines to many Banks, Lenders, … (35 comments)
But for Millennial-age hopeful home buyers, credit-related issues are of particular interest and importance these days. I'll add they may be a bit frustrating too ... It's been very well-documented: The job market and financial problems have dogged Millennials. As a result, many have poor credit. Or have avoided accumulating debt entirely. They pay cash for every purchase or bill they have. Each credit issue presents its own challenge. Decidedly so when … (49 comments)
Banking and Account Fees: Why They Must Be Important to Millennials
Banks, many of which are trying to re-coup profits lost from low interest rates, mortgage lending, and the cost of doing business, have been raising the fees on many of their services ...
Those service fees that I as a Mortgage Lender see come into play most often for my Mortgage clients often "fly under the radar", meaning they often go undetected or are paid little attention.
Those two service fees?
ATM Fees and Overdraft Fees.
… (58 comments)
millennials: Tackling Millennial Student-Loan Debt: Getting on Track to Buy a Home in Chicagoland
- 08/20/13 06:40 AM
Tackling Millennial Student-Loan Debt: Getting on Track to Buy a Home in Chicagoland Being the father of two Millennial-age sons, I can tell you from personal experience ... this age group is facing some serious financial issues. For one, student-loan debt. It's much higher than ours was. And that debt (a quadrupling between 2003 and 2012) is currently slowing, stalling or keeping them out of the housing market. Luckily, one of my sons dodged this economic bullet. College costs were very minimal because of a college scholarship. My other son did much the same while attaining … (54 comments)
Are You a Millennial Hoping to Buy a Home?Solutions Exist to Address the Challenges You Face It's no secret ... Today's younger generation is finding it much more challenging to buy a home than their parents did. That's troubling and sad, as 9 out of 10 millennials report they want to buy a home. A recent revealing survey released by Apartment List shows that: 
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