Today’s millennials demands larger, much expensive homes than other previous generations, with an average price of $217,000 for 1,800 sq.ft. Much more pricey than baby boomer homes and just 11% less expensive than Gen X homes. 54% buy homes with shared amenities, such as a clubhouse with a community gym or swimming pool. These preferences make the suburbs the more economical choice for young home buyers.
Tips For The Millennial Homebuyer
The Millennial homebuyer, a consumer 18 to 34 years old, makes up 42 percent of the homebuyers today. This generation is making a huge impact on the housing business. It also faces unique challenges when buying a home. As a Millennial, you grew up during the Great Recession (December 2007 – June 2009). There’s a good chance you were touched by high unemployment, student loan debt and tight credit standards. Don’t let these challenges cause you to… Read more at The Mortgage Reports
The times of the renting and urban-dwelling millennial are fading. The young millennials’ impact is substantial and are increasingly shaping the way home buyers shop for their new homes. Home buyers under 36 years old make up half of the current housing market.
A look at millennial homebuyers
Millennials, also known as Generation Y, are the youngest group of buyers today. However, this market segment, ages 18-34, has to deal with some obstacles that were not a factor for previous generations. So, what are the top issues facing this group of prospective buyers and how they can overcome them?… Read more at Lansing State Journal
The Unique Profile of the Millennial Home Buyer of Today
Millennials are way more collaborative in their process of finding a home than the older generations are. They tend to utilize all the available tools, including their phones, social media and online networks. Older generations rely more heavily on the real estate agent for information and advice… Watch here
The United States Court of Appeals for the District of Columbia Circuit is quite the place to be nowadays, especially if you have problems with how the federal government functions. Fresh off handing down a significant ruling in the fight for the constitutionality of the Consumer Financial Protection Bureau, the District of Columbia Court of Appeals just dealt a huge body blow to the investors who claimed that the government’s decision to sweep all the profits from Freddie Mac and Fannie Mae into the government’s coffers was not only illegal, but unnecessary as well.
Court rejects hedge funds claims in Fannie, Freddie profit sweep
The issue at hand is the so-called “Third Amendment sweep,” in which the federal government modified its conservatorship agreement with Fannie and Freddie to direct all profits from the government-sponsored enterprises to the Department of the Treasury. The government claimed at the time that the previous version of the conservatorship agreement, which required Fannie and Freddie to send a quarterly dividend to the Treasury… Read more at HousingWire.com
An individual purchased a stock with an understanding that the rules affecting loss and profit won’t change without warning. The United States Court of Appeals, District of Columbia Circuit apparently believes otherwise. On the 21st of February, the court ruled 2 to 1 that investors in shares of secondary residential mortgage lenders Freddie Mac and Fannie Mae, as managed by the New York hedge fund, Perry Capital LLC has no right whatsoever to realize their accrued profits.
Ruling in Perry Capital Appeal Shackles Fannie Mae/Freddie Mac Shareholders
National Legal and Policy Center on many occasions has analyzed the Fannie Mae and Freddie Mac financial crisis and the various proposed remedies for it. The problem has its roots in the implicit, and misguided, idea that homeownership is a right and that housing policy must promote that right at whatever risk to the public. For decades, these publicly-traded companies, for better or worse, have played a central role in… Read more at National Legal and Policy Center
Does Trump have a Fannie Mae and Freddie Mac Conflict?
MSNBC’s Rachel Maddow explains how Trump might have a Fannie Mae and Freddie Mac conflict of interest. When she asks Kellyanne Conway whether Americans need to know more about… Watch here
Purchasing your first home is hardly simple for anyone, but exploring and learning the whole process can be particularly very challenging for young and single home buyers, who only have their sole income to rely on to pay all the expenses.
Single Homebuyer: You Can Be Young, Free, And A Homeowner
Buy a home on your own when you’re a widow or widower, or are divorced or separated, and nobody raises an eyebrow. But choose to be a single homebuyer when you’re young and unencumbered, and you’re an object of curiosity. Not in a bad way, you understand. It’s just your friends are likely to see you differently — as if you’d announced you don’t own a smart phone. Others will admire and… Read more at The Mortgage Reports
Fewer young singles are purchasing homes, thanks to compressed finances and tougher lending standards. Before you go ahead and take the plunge in buying a home, be smart and consider whether you’ll be able to handle the bills and expenses on your own.
Becoming a Homeowner At a Young Age
Is it possible to own a home right out of college? Well, it depends on your situation. It is true that a single young person will have a much harder time owning a home than a young couple with two incomes, but do not be discouraged by that. Homeownership is the American dream, and I think that everyone should be working towards owning a piece of property, or mayb even two, three, or ten pieces of property. The fact is that real estate is a… Read more at Money Crashers
Bill Golden, Realtor with RE/MAX Metro Atlanta City side, says rivalry for residences today is significant due to several factors.
“We’ve had record low inventory for a couple of years now, which creates fierce competition for buyers,” says Golden. “This is mostly due to the recovery from the recent recession.
“Sellers on the top end are reluctant to sell, as they are still trying to recoup the perceived value they lost during that time. This, in turn, stalls the move-up market, which creates a tight market for first-time home buyers.”
As a result, home seekers need to be ready to clear hurdles along their path to home ownership.