Could the Long Decline in Young-Adult Homeownership Be Nearing an End?
December 17, 2015 5:00am by
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What is the guest author smoking? Can I get some? Reality will dictate otherwise for years to come…
Two questions – Where do they get the down payments? and Where do they get the income for mortgqage payments & taxes?
Be one of the hundred million plus Americas working una a growing economy and save a portion of your income.
Great post BR.
Home ownership trends are quite stable and all the data points to more improvement.
Gotta laugh at the guys who think we’re in a recession.
Well, if I was 25 and could get a 30 year fixed rate mortgage for 3.7%, I would be sorely tempted as it would fix my housing costs (ex taxes and upkeep) until I was really old (by their standards) whereas I would hope my salary would continue to go up. Also, a lot of the hemorrhaging in that demographic is people aging out (turning 35 and more likely to be home owners). There will be a lot of baby boomers moving into condos over the next 20 years which will increase the housing supply. So I’d be surprised if home-ownership rates didn’t increase for young people everywhere other than Northern California and Manhattan.
Actually, the data show that most Boomers plan to age in place. They don’t plan to downsize and they plan to stay in the ‘burbs.
I also believe that we have to distinguish among cohorts within the Boomers. 60 year olds have different needs now than when they will be 90+.