Posts Tagged millennials

Millennials going deeper into debt to buy homes, realtor.com study finds

family outside of home

  Older millennials have a strong presence in today’s real estate market; they’re buying homes, they’re getting mortgages. But unlike their Generation X and Baby Boomer predecessors, millennials are taking on significantly more debt to do so. According to a new analysis of mortgage origination data from Optimal Blue by realtor.com, millennials, many of whom are already burdened by student loan debt, are buying homes and starting families in an economy where home price increases have generally outpaced wage increases. This, combined with the fact that there are fewer starter homes on the market, led many millennials to purchase higher

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Builder Confidence Reaches 8-Month High in November

home builders

Home builders are feeling a lot better about where the new housing market is headed, thanks to a consistent increase in demand and a continuing struggle with real estate inventory. According to the latest information from the National Association of Home Builders (NAHB), builder confidence in the market for newly-built, single-family homes rose 2 points to a level of 70 in November, marking the highest reported confidence level since March and the second highest on record since July 2005.

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Facts About Millennials and the U.S. Housing Market

Did you know that Millennials are the largest living generation by population size? With nearly 80 million Millennials in 2016, and Millennials being anyone age 19-35 during that time, the group should be dominating the housing market. Shouldn’t they? Fact: Millennials Dominate the Rental Market Unfortunately, Millennials are way behind when it comes to homeownership. According to data from Pew Research Center, as of 2016, Millennials headed only 28 million households. That’s significantly fewer than their Generation X predecessors (ages 36 to 51 in 2016) as well as their parents’ generation, the Baby Boomers (ages 52 to 70).

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