It’s about to get even harder for Millennials to buy their first homes. Nearly 45 million Americans will reach the typical age for first-time home buyers within the next 10 years,creating stumbling blocks in an already challenging market for those racing for a spot in the starter home market.
Though the current housing market is cooling off, this coming wave of buyers faces a future starter-home market with now-familiar dynamics: relatively high demand and low supply, in which the stiff competition among buyers worsens the affordability issues caused by rising prices. The Mr. Cooper report found that 58% of aspiring homeowners lack the funds for a down payment; nearly half don’t have a financial plan in place to purchase a home someday; 75% would be willing to work a side job if it meant owning a home sooner; and 36% would have a roommate if it meant being able to afford a home sooner.
Heck yeah! Especially if you’re in SoCal or in Bay Area. Good luck.
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Marriott to Take On Airbnb in Booming Home-Rental MarketMarriott International is starting a new home-rental business, aiming to challenge Airbnb and other home-sharing companies. yes, because only corporations should be allowed to profit from owning property they are really late on this idea. There’s already vrbo, homeaway, Airbnb and RentLikeAChamp toolate Marriott is one of America's greatest corporations. Still a FAMILY-run business. Amazing how many good things emanate from strong families. So many problems are resolved when government creates the environment for families to thrive.
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