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First Time Home Buyer, What's That?

By _ follow _   2014 Mar 5, 6:30am 1,688 views   8 comments   watch   nsfw   quote   share    


http://loganmohtashami.com/2014/03/05/first-time-home-buyer-whats-that/

Base salaries for college grads in some sectors isn’t high enough to obtain mortgage debt The bottom line is that unless we see income growth, more younger Americans working and more of those younger Americans with better base salaries, first time home buyers will continue to be shut out of the market and this will affect the overall housing recovery.

#housing

2   bubblesitter   ignore (0)   2014 Mar 5, 6:40am     ↓ dislike (0)   quote   flag        

Income recovery equates to housing recovery but not the other way around. Low inventory and low rates have locked this market down at this moment. Only people buying now are with some 50%+ cash of the sold price. Not sure how much longer this can go on.

3   _   ignore (0)   2014 Mar 5, 6:44am     ↓ dislike (0)   quote   flag        

bubblesitter says

Income recovery equates to housing recovery but not the other way around.

67% mortgage buyers, Soft

26% of that is first time home buyers, Soft

33% cash, that is 23% above historical trend all this with rates under 4.5%

I don't believe we have ever had a post recession housing recovery where household incomes didn't rise and didn't have a strong primary resident buyer presence

However, in 2014 it's called a recovery

4   bubblesitter   ignore (0)   2014 Mar 5, 6:50am     ↓ dislike (0)   quote   flag        

Logan Mohtashami says

However, in 2014 it's called a recovery

Seems odd to say that with super low inventory. More inventory is possible only with another round of recession as there is simply no chance to move up for current sellers.

6   hrhjuliet   ignore (0)   2014 Mar 5, 10:34am     ↓ dislike (0)   quote   flag        

I find these charts very interesting. Thank you for posting.

7   _   ignore (0)   2014 Mar 5, 10:38am     ↓ dislike (0)   quote   flag        

hrhjuliet says

I find these charts very interesting. Thank you for posting.

you're welcome, math, facts and data can lead to the truth

8   _   ignore (0)   2014 Mar 5, 10:05pm     ↓ dislike (0)   quote   flag        

I would imagine the 35 and under crew has these debt to income problems because of the lack of strong base salaries. Rent inflation is rising as well on them.


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