For Millennials, There's No Place Like Home When It's Time to Save For One #investment #realestate #wealth

Source:  USA Today

Millennials are finally starting to get active in the real estate market.  After the 2008 financial crisis, many millennials returned home to live with their parents or shared expenses with roommates.  Now, millennials 36 and younger represent the nation's largest share of home buyers at 34 percent, according to the National Association of Realtors.

Saving a 20 percent down payment is "a major hurdle for young adults trying to buy their first home," according to a Bank of America Merrill Lynch report.  It is even more challenging for millennials given their high student debt loans.  Outstanding student debt has reached $1.3 trillion, according to the New York Federal Reserve.

More than four out of 10 (43 percent) millennials who have completed college said student debt caused them to "delay buying a home," a TD Ameritrade survey found.  And 27 percent of millennials between 20-26 said education loans delayed them from "moving out of (their) parents' home."

Check out the full story here:
https://www.usatoday.com/story/money/2017/08/07/millennials-move-back-parents-save-house/512027001/

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