AgentIndustry News

Are millennials growing up?

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Much has been written about the challenges that are keeping millennials -- the largest-size generation in the country -- from homeownership. But according to one lender, young people in their 20s and early 30s are maturing, forming households and flooding the housing market. Endeavor America Loan Services, a national wholesale lending company, released a topical advisory this week compiled of data from its loan applications that indicates millennials may be fueling a housing boom that will shape the mortgage market in the near term. Like the recent analysis of many other lenders, economists and market watchers, Endeavor noted that millennials still face significant obstacles to buying a home, such as: A weak job market Low-paying salaries Inability to save for a down payment Significant student loan debt A delay in plans to establish households and families But in surveying data from 2014 and early this year, which includes more than 5,400 millennial ho...