Millennials’ Obstacles To Buying A Home
The Lawhead Team would like to share the latest One Cool Thing from the California Association of Realtors about the hurdles to owning a home.
What are the major hurdles to homeownership for Gen. Y?
According to a national survey of 2,000 millennials, top concerns cited were:
- 64% – Down payment
- 32% – Credit Score
- 32%- Student loan debt
- 25% – Not knowing how to start
- 14% – Credit card debt
But there is some GOOD NEWS!
55% Plan to purchase a home in two years
40% Say that recent reductions in mortgage insurance premiums (MIPs) have favorably influenced them to make a home purchase.
Source: Carrington Mortgage Services, LLC (Carrington) and OnePo
