News Formal

Baby boomers and their cash are driving the housing market right now

  • 📰 NBCNews
  • ⏱ Reading Time:
  • 13 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 86%

United States News News

United States United States Latest News,United States United States Headlines

As other buyers shy away from high mortgage interest rates, older generations with plenty of home equity are doing just fine — and giving their children a leg up, too.

To a large degree, it's all-cash buyers. These individuals are able to sidestep mortgage rates entirely and purchase a home outright at cost.the share of all-cash purchases had increased to one-third of the entire U.S. housing market, the highest level since 2014.

Marr added that the homeownership rate of Generation Z adults has already surpassed the rate of Generation X “It’s not like most people are emptying their checking accounts,” Sturtevant said. “They’re rolling over their housing wealth."

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 10. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Newborn baby abandoned at Plano businessPolice in Plano are investigating after a newborn baby was found abandoned.
Source: FOX4 - 🏆 289. / 63 Read more »