Valuing Home Ownership
Younger people value home ownershipPosted on February 26, 2013 by Nikki.
A recent article posted in Realtor magazine discusses the importance of home ownership to the younger generations of Americans, “Younger Generations Rate Home Ownership Higher.” Prudential Real Estate surveyed approximately 5,000 potential home buyers and sellers, and about 77% of those aged 25-34 and 78% of those aged 35-44 rated home ownership as “very important.” This group, often called “Millennials” and “Generation X,” compose about 85 million people in the United States. Perhaps an important factor is that the younger portion of this group was probably never directly affected by the recent real estate downturn. They are most likely looking for their first ever home purchase with very optimistic eyes, reasonable prices and historically low interest rates. In fact, 74% of all survey participants cited the low interest rates as an important factor. Other factors include control over space, safety, and investing opportunities. Still, more than half of the respondents realize that obtaining a loan is still a challenging process. Naturally, good real estate professionals can make this entire process run smoothly, efficiently, and painlessly.
As always, if you would like more information on Sunnyvale properties or real estate in general, please contact Sunnyvale specialist, Nikki Langendorf, at 1-408-896-4221 or firstname.lastname@example.org. I am here to help you with your housing needs!