2015 Is the Year Millennials Start Buying Homes
Millennials, who make up one-third of the population in the States, haven’t been buying homes at the same rate as previous generations of young people. Due to the Great Recession, college grads have had a hard time finding jobs and an even harder time getting mortgages with their not-so-great credit scores. Tack on the mountain of student debt, and for a while, it seemed like “Generation Wait” might be their new nickname. But according to Bloomberg Businessweek, OB Jacobi, president of Windermere Real Estate, says that “this is going to be the year they start buying homes.” Economists and real estate agents agree, saying that 2015 will be a turning point for millennials, which could potentially put an even tighter squeeze on the already tight market.
Read more about this and other predictions for the 2015 housing market here.