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While Millennial Home Ownership Contracts Student Debt Expands: The Young Struggle for Housing. | Tony Seruga
Nov
28

While Millennial Home Ownership Contracts Student Debt Expands: The Young Struggle for Housing.

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One thing you can bet on is the unexpected.  The big bet was that nearly a decade after the housing bubble peaked and then imploded, that young buyers would suddenly enter the real estate market in force.  Instead, many are living with parentsor are part of the renting revolution.  Of course the housing cheerleaders continue to champion a bubble in real estate yet somehow scratch their heads at the political ramifications that are hitting our country.  Just like in politics, we are living in a massively divided real estate market.  The difference in real estate however is the group of people that can afford current home prices grows smaller and smaller.  Millennials, the next wave of supposed buyers never materialized.  What you had is low inventory, investors, artificially low interest rates, and foreign buying taking up the slack.  Even in California, we have 2.3 million young adults living at home with their parents.  The latest data shows that instead of taking on mortgage debt, Millennials are racking up large amounts of student debt…

While Millennial Home Ownership Contracts Student Debt Expands: The Young Struggle for Housing.

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