Real estate focused on the Millennium on the horizon

 

Really, they don't want to come out, according to a study by Harvard's Joint Center for Housing Studies and by 2025 could form 24 million new households.

Some graduates recent 11 million lived with a parent in 2012, according to Pew. The rate of home ownership for less than 35 years was 36% in the first quarter of 2014, against a maximum of 43% in 2005, according to the census.

Three main factors have been holding back, said the Harvard study: a market of low employment for recent graduates. Student loans. And lending standards tightened.

But while the economy turns around, the barriers began to fall.

"When retrieves the job market and their income recovers, they will make their mark on the housing market," said Christopher Herbert, Director of research at the division of Harvard, in a panel discussion after the release of the Harvard report.

Related: Price of: "I can't provide a home in my town.

Purchase of Millennials should give a boost to the housing market all.

"If someone wants to go from a starter to a bigger home House, need someone to sell Starter House," said Mike Calhoun, President of the Center for Responsible Lending, to the Panel.

The report stresses that certain factors can retain training household. Despite the improvement in the new economic, generation y to only slow economic gains. Unemployment is down, but the growth of salaries has stagnated with persistence. Moreover, Millennials must still face growing student debt burden and lending standards tightened.

 

Instead of a mass exodus from their parents, the authors said Millennials could just leaking out, mirrored what Herbert called "constant, slow recovery." of the economy

The report also points out that borrowers of color, who expected to experience population growth which could help household car and building training, face denials of mortgage loans at rates much higher than white counterparts, which could well endanger a surge of housing.

First published: 26 June 2014: 6:32 PM and