Millennials are going to make houses expensive until builders get their act together
"Higher prices may be the norm until supplies of new and existing homes catch up to demand," Peterson said, adding that it could hamper home purchases for some potential buyers in the short-term. as adults. The skyrocketing prices have pushed homeownership out of reach for many millennials, despite some of their peers leading the housing recovery.
But Peterson believes it's not enough to dampen millennials' homebuying drive in the long-term amid low interest rates and a"solid economic backdrop." As Cororaton pointed out, millennials will continue to reach homebuying age until 2040. That could be another two decades of high prices unless builders catch up on supply.Subscribe to push notifications
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