A previous post, “Millennials Face Unprecedented Economic Hurdles to Home Ownership,” outlined some of the most pertinent economic constraints facing the Millennial generation with regards to home purchase. Declining incomes, higher costs of living and an increasing cost of homes present significant obstacles to young adults’ ability to buy a home. Another obstacle for would-be buyers is a shortage of available, lower-cost houses.
Currently there is mismatch of available product and lower-cost product that most Millennial households could afford. Housing inventory has remained depressed even as prices have risen in recent years, and inventory is in shortest supply in the most affordable segments. The divergence in home prices and inventory is a perplexing trend, as prices have been the most robust predictor of housing inventory throughout history.
Read more...Qualified Millennials Find Affordable Homes in Short Supply | Property Management Insider
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.