Why Housing Is Dead: First-Time Buyers Collapse To 27-Year Lows

Why Housing Is Dead: First-Time Buyers Collapse To 27-Year Lows (ZeroHedge, Nov 3, 2014):

The Millennials (one of the biggest generations in US history) are just not getting with the status quo program. As we detailed previously, with lower credit scores, less disposable income, and a soaring number of people living with their parents; so it should be no surprise that The National Association of Realtors (NAR) today admitted that first-time homebuyers plunged to the lowest level in 27 years. The blame – of course – rather than low/no-growth fiscal policies, student debt servitude, and inequality-driving cheap-funding monetary policy, is price comnpettion from ‘investors’ and too “stringent credit standards,” perfectly mirroring FHFA’s Mel Watt’s Einsteinian insanity desire to dramatically ease lending standards and slash minimum down-payments (as we noted previously). Perhaps NAR accidentally stumbles on the biggest reason no one is buying in their profiling: the typical first-time buyer was 31-years-old, while the typical repeat buyer was 53 – smack in the middle of the Millennial collapse.

1 thought on “Why Housing Is Dead: First-Time Buyers Collapse To 27-Year Lows

  1. Prices are at 2007 prices, few can afford homes, their incomes are 2014 level, and they suck. When college graduates get $14.00 an hour, who can buy a home? The greedy guts have to suck it in, they are going to lose, too.
    I cannot wait to see it happen.

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