First time home “renters” not buyers

In 2013, about 30% of new construction was apartment buildings (highest in several years) in hopes to catch young people out of college or just leaving home to step into an apartment and not a home. It’s also estimated many older homeowners will be downsizing and may just rent something.

Some reasons young people are not buying homes so soon – low wage gains, student debt, tight mortgage credit, and unemployment.

Source: WSJ, 3-10-2014, A1

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