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The Secret Strengths of First-Time Homebuyers

The standout headline in real estate news this year has been the first-time
homebuyer. Pundits are pointing to the bank of mom and dad as the primary
force behind these buyers, conjuring images of wealthy baby boomer parents
showering their children with gifts, propelling them into a housing market
they’re not ready for.

It turns out there’s more to first time homebuyers than the headlines tell
us. They’re faced by a myriad of barriers to entry – staggering student
debt, incomes growing slower than inflation, and hot housing markets to
name a few. But there’s more than one source of their powers. Yes, parents
are on the list – and they’re contributing more than ever – but the
majority of first time buyers are still doing it on their own.

So how do first-time homebuyers do it? Using data from Genworth Canada’s
First-Time Homeownership Study, we’ve uncovered the villains plaguing
first-time homebuyers, and the secret superpowers they’re using to overcome
them.

Source : www.ratehub.ca

Source : www.ratehub.ca

Categories:   Financial

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