Home Purchase Still a Fantasy for Many

Noting the number of first-time home buyers has dropped 20 percent since 2009, the John Burns Real Estate Consulting firm tells Bloomberg’s BusinessWeek home ownership for 25 to 34 year-olds will continue to fall trough 2015. Staggering student loan debt—federal student loan debt has increased 360 percent since the beginning of the recession– stagnant wages, and tight credit have put the purchase of a home, although prices are low, out of reach of many in that age group. Additionally, older workers whose retirement funds have fallen continue to work, thereby leaving fewer job openings for new hires. As MHProNews.com has learned, housing contributes approximately 18 percent to the nation’s gross domestic product.

(Photo credit: Hometown America–Countryside Village)

mas kovach mhpronews shopping with soheyla .jp

Get our ‘read-hot’ industry-leading 

get our ‘read-hot’ industry-leading emailed headline news updates

Scroll to Top