Young people aspiring to buy their first home are already facing disappointment this year.
Rising prices are putting more homes out of reach, and pickings are slim because few properties have come onto the market this spring, when sales are supposed to take off.
Millennials are also burdened by heavy school debt and depleted savings that hurt their ability to qualify for a mortgage. Until their incomes start to rise meaningfully, many will be forced to keep hunting for a home while delaying the dream of ownership. This has weighed on overall home sales and economic growth throughout the rebound in housing the past three years.
See the rest of the article here: http://www.montereyherald.com/business/20150512/first-time-buyers-face-hurdles-to-homeownership-this-spring
Dont Miss a New Listing Again!
Already registered? Login
FREE AUTOMATED EMAIL UPDATES
Sign in to take advantage of all this site has to offer. Save your favorite listings and searches – also receive email updates when listings you like come on the market for free! *Contact Information NOT Shared*
Steve Mast, Owner/Broker CA BRE # 00648524
3116-B Del Monte Blvd
Marina, CA 93933