Tag Archives: Homeownership

A new study by Trulia shows that while doctors can still afford most markets, teachers, first responders, and restaurant workers are getting increasingly shut out of markets where they work. Availability for solid, even above-median earners in coastal California is especially low. However, even there, some pockets of affordability exist.

According to a paper released by Fannie Mae on Thursday, educational attainment can increase the likelihood a young adult will buy a home. The paper’s findings showed a decrease in young adult homeownership since the Great Recession, as well as a dip in the likelihood of a 25- to 34-year-old to buy a home.

Many immigrants struggle to gain homeownership, however, many immigrants who have been here for 10 years or longer, especially those with higher education, are able to find higher paying jobs and buy a home. Over 61 percent of immigrants from travel-ban countries are homeowners, coming close to the domestic-born homeownership rate of 68.8 percent.

Recent study shows that decrease in homeownership is most severe among 25 to 29-year-old age groups, African Americans, and one-person households. Reasons cited include tightening credit requirements, rising student debt, and lack of ability to save for down payment. Experts say that dip in homeownership has contributed to dip in national GDP.

While other cities experience shifts from rental to homeownership in the face of high rent costs, Detroit has reached a higher percentage of renters compared to homeowners. This could cause city official to re-evaluate how to ensure stability.

With no surprise, more and more adult children live at home with their parents, as heavy student debt is the most common reason for older children to wait to buy their own property.

Recent Zillow data reveals a rising number of couples are buying homes together—even before walking down the aisle. Single homebuyers are also at their lowest point in more than a decade.

Understanding this unique generation of homebuyers is essential for achieving loan origination goals. This select print feature originally appeared in the February 2017 issue of MReport magazine.

Millennials, who many believe will drive the housing market in 2017, are substantially more optimistic toward the market this year than they were last year, according to a recent quarterly survey.

The past year saw extremely high demand for homeownership, causing nationwide home prices to rise considerably higher by the end of the year.