The Future of Entry-Level Homeownership

Only three years ago, it appeared that the future would likely include a healthy entry-level homeownership market. After all, the Millennial generation (also called Gen Y) rivaled the Boomers in numbers, and the youthful immigrant population (both documented and undocumented) continued |to increase. Both groups were poised to be enthusiastic first-time homeowners. But a funny thing happened on the way to the future...

As the housing market continues to struggle with high inventory and a lack of demand, homebuyers appear unprepared to take out a mortgage, answering basic questions about mortgage information wrong 46 percent of the time, according to a Zillow Mortgage Marketplace survey...

Regardless of the “doom and gloom” mortgage stuff that is being publicized these days, the first time home buyer market just doesn’t waiver very much. Suffice it to say, this is the area that you need to originate mortgages from to survive in the mortgage business. Read this article to learn more...