by Shane Bierly
You’ve heard it for the past few years – millennials are coming to the rescue of the housing market. But where are they?
Millennials may be waiting a little longer than initially expected to purchase their first house, but fear not, they are also taking their time to get married and have kids, too. There doesn’t seem to be much fear in purchasing a first home for this demographic. In fact, most millennials are eager to buy.
The reason Millennials seem to be creating their “American Dream” a little later than expected is the amount of debt they face upon leaving college. Student debt is making it increasingly difficult to pay rent, a mortgage or save for a down payment. Especially when that debt is incurred, but a degree was not earned – leaving them saddled with payments and an earning gap.
Are you a millennial looking to buy a house? Give us your thoughts on housing by leaving a comment below.