It looks like now is the time for the Millennials, also known as Generation Y, to begin their house hunt, according to new research. This group born in the early 80’s through the mid 90’s are finally on board with real estate investment, seeing the benefit of home ownership.
As late as last year, this was not the case. Millennials were still weighing their options and jumping at the opportunity to buy. What has made them change their mind? Possibly seeing the rates finally begin to increase. Maybe the current market trend and the buyer’s craze, jumping in, making multiple offers and fighting over the less than substantial inventory that is available. The fact that the elections are now a memory and the political climate is changing could also be a factor. Whatever it is, they are now in.
Looks like the one thing holding them back is down payment. This has always been seen as an obstacle and sometimes a misunderstood hurdle. These days, there are many financial loan options available, either alone or combined, so that buyers can move forward to find that new place to call home.
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