The millennial generation that grew up with computers as appliances and fed on video games are looking for a high-quality virtual reality experience when looking for a home.
For all the fanfare about how millennials were poised to be the biggest home buying generation yet, there are still a few things that must happen to get them out of their parents’ basements or shared rentals. Interest in buying, however, is not the issue. According to new data from Apartment List, 80% of millennials do have the desire to buy their own homes, but economic factors are delaying the process for up to two decades if they must continue to assume, they must save up for a 20% down payment. Even if this was reduced by half, however, only 33% of millennials would be able to save that amount in five years or less.
SR Loan Consultant