Rightttt-
Short of cash, burdened by student debt and unsettled in their careers, younger adults — and even those not so young still playing catch-up from the Great Recession — are biding time in apartments for longer periods and buying their first homes later in life.
The typical first-timer now rents for six years before buying, up from 2.6 years in the early 1970s, according to a new analysis by the real estate data firm Zillow. The median first-time buyer is age 33 — in the upper range of the millennial generation, which roughly spans ages 18 to 34. A generation ago, the median first-timer was about three years younger.
The delay reflects a trend that cuts to the heart of the financial challenges facing millennials and those slightly older: Renters are struggling to save for down payments as wages have largely stagnated. Increasingly, too, they’re facing delays in some key landmarks of adulthood, from marriage and children to a stable career, according to industry and government reports.
Read more here:
More people wait longer to buy their first home
We are still 15 months away from the election and I fully expect that the GOP candidates will try to "talk down" the economy because that will help them in 2016.
The fundamentals of the economy are sound right now but the Koch bros and the rest of the special interests want power and will do whatever it takes to win. If that means forcing the economy into a recession at the expense of jobs for We the People they won't lose any sleep over making that happen.
