Path to homeownership:
Millennials’ attitude towards housing and their path to homeownership has been a hot topic for some time. Several theories have been floating around as to what is their attitude towards homeownership, what is the rationale behind their thinking that way, and how is it going to impact the housing market, and subsequently, the economy.
Crucial Decision:
For old and young alike, most key decisions come down to economic realities. That is simply how it is. 2008 collapse of our financial system had far-reaching, and long-lasting, in some cases, even permanent impacts. Very little has been done to eliminate the underlying causes of that disaster, even though, the politicians would like us to believe otherwise. Millennials, like the young folks of every generation before them, are smarter than their predecessors and they really understood the devastation of that collapse. Many experienced it firsthand or watched their folks suffer through it.
As the economy stabilizes, unemployment declines and the overall economic mood improves, everyone including the millennial will start to feel better about things. Of course, then they will buy their first house. After all, homeownership is not only an integral part of the American Dream; it is one of its critically important pillars.
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