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| Sponsored by Quicken Loans |
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| First-Time Homebuyers Meeting Overlapping Pressures |
| By Suzanne De Vita |
With the affordability crunch difficult to overcome, first-time homebuyers are increasingly struggling, according to the 2018 Profile of Home Buyers and Sellers by the National Association of REALTORS® (NAR). Thirty-three percent of buyers this year were buyers fresh to the market, the report shows—a decline from 34 percent the prior year, and now down for the third straight year. Their challenges are cost-related, and overlap: college debt, the down payment and increasing mortgage rates. Forty percent of first-timers have $30,000 in student loans, according to the report, while 13 percent of all buyers are challenged by the down payment—half of which because of college debt obligations. ...
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Fall nights are in full swing and the harvest moon hangs low in the sky. There's no doubt about it, Halloween is just around the corner!
