After the real estate and mortgage crash that began in 2006, home prices have been improving to the point of exceeding pre-crash levels in many markets. Articles talk about why this is the case, with lower inventories being the most mentioned reason. Whatever the combined reasons, prices for homes are up and still rising.
Now we also read a lot of news about the economy, wage stagnation and the shortage of suitable jobs for college graduates.
Mentions of millennials living in their parents’ basements are common, and many are still living with their family. They do not believe they can afford to rent, much less a down payment and a home purchase. First time home buyers are still a rarity in most markets. So, what’s the answer when it comes to luring millennials into buying a home, and what will they be looking for?
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