Your home: Millennials are having a hard time becoming homeowners

the taylor-made team

OLYMPUS DIGITAL CAMERAAs the housing market continues to improve, there is a certain segment of the population that seems to be somewhat left out. Those who reached early adulthood around the year 2000, or millennials, are that segment and they are facing quite a few road blocks when it comes to buying a home.

Unfortunately, there seems to be a one-two punch working against this younger generation. The combination of a weakened job market and higher levels of debt has prevented many of this generation from achieving the American dream.

The hardest hit are college graduates. Many of them have substantial student loan debt which works against these young buyers when lenders are calculating their debt to income ratio. Additionally, exorbitant student loans create an opportunity for missed payments or late payments which negatively impact a buyer’s credit score.

It feels counterintuitive to me. Shouldn’t we be rewarding a generation of Americans…

View original post 330 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s