Millennials Will Boost the Housing Market
It isn’t a lack of interest in homeownership that’s preventing them from buying homes; Millennials very much desire to own homes.
Millennials say they want to own a home - one day - and when they do decide to enter the housing market, conditions will play out in their favor. While Millennials continue to rent because they can’t afford to buy a home, the demand for properties will decrease and help to lower prices. Historically low mortgage rates will also help future homebuyers purchase homes at a lower monthly price. This will allow many Millennials to enter the market around the same time and help give housing the boost it needs.
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