Bloomberg news recently asked, "will next year be the year that millennials finally satisfy builders and real estate agents (not to mention mom and dad) by making their presence felt in the housing market?" According to the article, the answer is yes: "millennials will make up the largest share of homebuyers in 2016."

Yet there continue to be a number of obstacles for millennials interested in homeownership. Not only do rising rents mean less chances to save for a down payment, according to the article, "for a lot of millennials, buying a home means breaking through layers of scar tissue developed during the Great Recession. That's both because the bad economy made it harder for young workers to save down payments and because of the stigma that got attached to homebuying after the mortgage bust." 

The article also cited a Trulia article in which Ralph McLaughlin outlines a "bargain belt" of cities "based on job growth, low vacancies, affordability, search data, and presence of millennials." The list was rounded out by none other than Tacoma, Washington. 

 

Comment