According to Bloomberg news, millennials are not buying homes now because they are leaving school with so much student loan debt it is near impossible for them to qualify for a loan. Read the article Student Debt a Major reason millennials are not buying homes. Here is an excerpt from the article:
“As much as 35 percent of the decline in young American homeownership from 2007 to 2015 is due to higher student debt loads, the researchers estimate. The study looked at all 28- to 30-year-olds, regardless of whether they pursued higher education, suggesting that the fall in homeownership among college-goers is likely even greater (close to half of young Americans never attend college).”
What this means for investors of real estate is that young families are going to be renting homes for the foreseeable future. We are seeing SO many apartment’s being built in the Charlotte area for a reason. These developers do their homework. However with a glutton of apartments more and more young families are going to want the family environment with the white picket fence.
Single family homes are going to continue to rent and there is going to be an abundance of young people want to live in homes with a yard and amenities. These types of homes, for this reason, are still fantastic options and good investments for real estate investors.
Here at Carolina Living Real Estate and Property Management we specialize in managing single family homes and taking the burden of dealing with day to day, month to month issues owning these homes. We manage several portfolios’s for investors and they are enjoying the benefit of having virtually zero down time with regard to occupancy.
Are you a new investor or seasoned one looking to purchase more? Contact us and we can guide you into areas that have great returns and very little vacancy.
Professional Services at reasonable rates
