NPR recently reported that while the housing market is strengthening, young buyers are still having trouble entering the market, even though they would like to. A decade ago, 43.6% of young adults under 35 owned homes. Today, that number is just over 36%. The article cites four trends among young would-be buyers that limit their ability to buy a home:
- trouble finding a job, especially one that pays enough to save for a down payment;
- low credit scores, as a result of missed credit card, car, and student loan payments;
- too much existing debt, often resulting from student loans; and
- delaying marriage and starting a family, events that often trigger a home purchase.
