Housing Recovery Sidetracked by Dearth of First-Time Homebuyers?

The lack of first-time homebuyers who are choosing to rent or remain with their parents is causing concern among industry experts. In addition, many young adults only remain at their jobs for two of three years resulting in the lack of interest in being tied to a mortgage. MHProNews has learned investors are buying many homes that might otherwise go to first-time homebuyers, further suppressing young adult homebuyers and, says, LRES CEO Roger Beane, interrupting “the natural liquidity of the recovering market.” Dale McPherson, president and CEO of Field Asset Services, however, says investors are filling the gap left by the lack of first time homebuyers, and that keeps the housing market flowing. HousingWire commentator Megan Hopkins clears the slate: Many factors are intertwined in the housing market recovery, and intense scrutiny sometimes goes to each one that gets away from expectations. She adds: “It’s important to note there are so many factors at play in a recovering market that there will always be fluctuations that alarm industry experts.”

(Image credit: rent-direct)

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