Key to Millennial homeownership: Education
Many Millennials want to enter the housing market, and even could enter, but are unaware they already hold the resources they need for homeownership.
United Wholesale Mortgage recently conducted a study on Millennials, generally referenced as ages 20 to 36 and the largest living generation with 75.4 million, according to Pew Research Center.
“Most of them [Millennials] are on the fence not buying houses, and the big why behind that is they think they have to save up a lot more money for a down payment,” he said. “When you tell them that a down-payment can be as little as two months’ rent, 96% of them say they’ll buy, and that’s a big difference.”
Click here to read the full story via HousingWire.