millennials: Future for Rental Properties
- 12/16/14 01:49 AM
Despite the fact that mortgage rates are near record lows and home prices are approximately 15% below prices during the housing peak, the rate of first-time home buyers has reached an all-time low this year. And while young adults and millennials would like to be homeowners, the National Association of Realtors blames heavy student loan debt and flat-lined incomes for holding back first time home sales. Additionally, tightening lending standards make qualifying for mortgages more difficult for those entering the housing market. However, future home sales for first-time home-buying millennials and downsizing baby boomers are forecasted for smaller, less expensive homes. … (8 comments)
Despite the fact that mortgage rates are near record lows and home prices are approximately 15% below prices during the housing peak, the rate of first-time home buyers has reached an all-time low this year. And while young adults and millennials would like to be homeowners, the National Association of Realtors blames heavy student loan debt and flat-lined incomes for holding back first time home sales. Additionally, tightening lending standards make qualifying for mortgages more difficult for those entering the housing market. 
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