SingleKey’s Post

Buy Or Rent – The Housing Dilemma Facing Millennials Millennials who are looking to take their first step onto the property ladder are facing unprecedented barriers to owning their own home. While house prices may start to come down with the number of sales being at their lowest since May 2022, it is unlikely to bring house prices to an affordable level for most first-time buyers. Learn more about Generation Rent and what they can do in these unprecedented times. https://lnkd.in/edi9Z7EQ

Buy Or Rent – The Housing Dilemma Facing Millennials Millennials who are looking to take their first step onto the property ladder are facing unprecedented barriers to owning their own home. While house prices may start to come down with the number of sales being at their lowest since May 2022, it is unlikely to bring house prices to an affordable level for most first-time buyers. Learn more about Generation Rent and what they can do in these unprecedented times. https://lnkd.in/edi9Z7EQ

Buy Or Rent – The Housing Dilemma Facing Millennials Millennials who are looking to take their first step onto the property ladder are facing unprecedented barriers to owning their own home. While house prices may start to come down with the number of sales being at their lowest since May 2022, it is unlikely to bring house prices to an affordable level for most first-time buyers. Learn more about Generation Rent and what they can do in these unprecedented times. https://lnkd.in/edi9Z7EQ

Buy Or Rent – The Housing Dilemma Facing Millennials Millennials who are looking to take their first step onto the property ladder are facing unprecedented barriers to owning their own home. While house prices may start to come down with the number of sales being at their lowest since May 2022, it is unlikely to bring house prices to an affordable level for most first-time buyers. Learn more about Generation Rent and what they can do in these unprecedented times. https://lnkd.in/edi9Z7EQ

Buy Or Rent – The Housing Dilemma Facing Millennials Millennials who are looking to take their first step onto the property ladder are facing unprecedented barriers to owning their own home. While house prices may start to come down with the number of sales being at their lowest since May 2022, it is unlikely to bring house prices to an affordable level for most first-time buyers. Learn more about Generation Rent and what they can do in these unprecedented times. https://lnkd.in/edi9Z7EQ

This article really provides an accurate synopsis of our current market! I will add that the older millennials are in their second homes now but it’s the younger millennials that home ownership continues to be out of reach. Median purchase age has gone from age 27 to 35! Wow, that’s 8 years of no home equity building. The struggle is real - how can we get home building costs down so that builders want/can construct new inventory?!

Homebuying Trends Across Generations Millennials: Largest homebuyer group (38%). Most are first-time buyers, highly educated (80% with bachelor's), and prioritize job location. Gen X: 4% of buyers. Higher income ($126,900 median). Prefer larger homes, often multi-gen. Baby Boomers: Seek smaller homes in rural areas for retirement. Expect long-term ownership. Silent Generation: 4% buyers. Focus on senior housing, health facilities. All Generations: 80% finance homes, younger rely on savings. Debt delays for younger buyers. Understanding these trends aids in informed home purchases. #HomebuyingTrends #GenerationalInsights

Six out of 10 millennials regret buying a home because they weren’t prepared for the hidden costs. So here are some tips on managing the new and ongoing financial demands of home ownership.