More millennials are preparing to rent for the rest of their lives, and down payment saving is the biggest barrier
  • Millennials still hope to buy homes one day, but the number of those who expect to be able to do so is dwindling.

  • Nearly one in five millennial renters said they expect to rent indefinitely, according to a new survey by Apartment List.

  • Down payment affordability is the biggest barrier to home ownership among millennials.

  • But there`s also variation among races when it comes to home ownership difficulty: White and Asian millennials are more worried about saving for a down payment, while black and Hispanic millennials are more concerned with mortgage denial due to poor credit.
Millennials have been blamed for killing a number of industries — from cereal and fabric softener to Applebee`s and department stores. And yet even though they are also considered responsible for killing homeownership, millennials still aspire to own homes. But the percentage is shrinking...

RSK: Since real estate is a supply-demand on pricing industry this will mean the lowering of value on homes in the long run. Fewer buyers means lower pricing and demand.
Ken Notes: If companies are looking to retain employees an down payment program may make some sense...

- - Volume: 7 - WEEK: 48 Date: 11/26/2019 8:26:46 AM -