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An Economist’s Letter to Millennials Who Can’t (Yet) Buy a Home 

Buyers 

This post from Jonathan Smoke, chief economist at realtor.com, explains what Millenials can do to help themselves along the path to home ownership.   For example, a high debt burden will restrict their ability to qualify for a mortgage, and the amount they can get, so they need to limit their total debt payments (student loans, credit cards, car loans, etc.) to less than 15% of their income.   Smoke also covers the importance of improving their credit score, saving as much as they can for a down payment and creating an emergency fund for unexpected bills. To read more click here. Source: Blog 

Business man climbing on coins ladder

This post from Jonathan Smoke, chief economist at realtor.com, explains what Millenials can do to help themselves along the path to home ownership.

 

For example, a high debt burden will restrict their ability to qualify for a mortgage, and the amount they can get, so they need to limit their total debt payments (student loans, credit cards, car loans, etc.) to less than 15% of their income.

 

Smoke also covers the importance of improving their credit score, saving as much as they can for a down payment and creating an emergency fund for unexpected bills. To read more click here.

Source: Blog

 

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