Buying a house is harder for millennials than it was for their parents’ generation, but that doesn’t mean all hope is lost. Depending on where you want to live, how much debt you have, and how much you have saved, buying a house might not be out of the question — if you’re willing to compromise.
Buying your first home is a big deal. Searching online is a great place to start, but buying a house is not like ordering a book online. Don’t let common myths you may have heard about home buying stand in the way of connecting with a helpful professional!
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Despite steadily improving local job markets and historically low mortgage rates, the U.S. homeownership rate is stuck near a 50-year low because of a perverse mix of affordability challenges, student loan debt, tight credit conditions, and housing supply shortages.
Read more about a new white paper titled, “Hurdles to Homeownership: Understanding the Barriers” released on June 9 in recognition of National Homeownership Month at the National Association of REALTORS® Sustainable Homeownership Conference at University of California, Berkeley.
