As millennials age, their desire to buy a home grows. Players and prognosticators in the nation’s housing market are holding out hope that 2015 will bring reasonably low interest rates, slowly rising.
The homeownership rate in the second quarter came in at 63.7%, up 0.8 percentage points from last year’s 62.9% but only 0.1 percentage points from the first quarter’s 63.6%.
Millennials on the move: the best and worst states to live in. while the lowest rate of homeownership among Millennials is in New York, Oregon, California, Hawaii and D.C.. Then shop around.
As more millennials become homeowners, seniors are becoming renters – A growing number of seniors is choosing to move out of homes they own. the eighth straight quarter in which the homeownership rate increased. The rate is now at its highest level since 2014. See.
Millennials finally embracing American Dream of home ownership. Chris Pawlowski, 26, packed up the dreams of many millennials when he moved into his Royal Oak condo this spring.
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For most millennials I know, the American dream of homeownership doesn’t just feel far away, but impossible. Especially if you live in an urban area, if your own parents didn’t own a home, if you’re saddled with student debt – it doesn’t matter if a mortgage payment might be equal to what you’re paying in rent when you’re struggling month to month, barely putting enough aside to.
Flickr/j_benson Millennial homeownership in the US is at a record low.. The age range of millennials – Bank of America Merrill Lynch economists used 25 to 34 – is usually prime time for.
The same report also notes that millennials tend to make lower down payments. While this does mean taking on more mortgage debt, it also means they’re not sacrificing other worthy financial goals in order to make a 20% down payment when it may not be necessary. A 21st-Century Perspective
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Millennials are making up a larger share of the U.S. homeowner market, and it’s because they are buying homes, two recent reports show. According to the latest estimates from the U.S. Census Bureau, the total homeownership rate increased to 64.8% in the fourth quarter.It was the eight consecutive quarter that the total homeownership rate increased on an annual basis.