Lunch & Learn: The State of Housing

As housing supply dwindles, affordability concerns grow while competition heats up the market. This Lunch & Learn will examine the current state of housing, featuring experts who have an eye on the market.

HousingWire Annual Virtual Summit

Join us on October 25 for a chance to see a handpicked selection of sessions from HousingWire Annual along with technology demos from the most innovative tech companies! Register now for FREE to experience HW Annual just like you were there.

How credit scores impact lenders’ pipelines in a purchase market

When a lender works with a borrower to improve their credit score, they are able to offer the most competitive rate and terms. Learn more here!

Volly’s Grant Moon on challenges facing veterans

In this episode of HousingNews, we are joined by Grant Moon who discusses the difficulties veterans face during the home-buying process and misconceptions about VA loans.

Real Estate

Millennial homebuyers are trickling into the market. Where are the rest?

What's taking so long?

young family buying a home

The common refrain is that millennials are spending all of their money on avocado toast, which means they can’t afford to buy a home. Right?

Yeah, not so much. While millennial spending habits may be a contributing factor, their inability to buy a home can also be blamed on a lack of savings, rising student loan and credit card debt, and homes being unaffordable.

The self-proclaimed “broke” generation is trying to be smarter about the housing market, but it’s difficult for quite a few potential homebuyers.

One issue is student loan debt, which is now the second-highest consumer debt category – behind only mortgage debt – and higher than both credit cards and auto loans, according to a report from Forbes. There are 45 million borrowers who collectively owe more than $1.5 trillion in student loan debt in the U.S.

Borrowers in the class of 2017 owe $28,650 on average, according to the Institute for College Access and Success. That debt load is making it harder for potential buyers to become actual buyers.

In an interview with HousingWire, Odeta Kushi, deputy chief economist at First American Financial, said that student loan payments are about 3% of the average millennials’ income.

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