• Home
  • Blog
  • Contact Us
  • Home
  • Blog
  • Contact Us
Quick Application | Kevin Pistole | Geneva Financial
  • Home
  • Blog
  • Contact Us

Blog Articles

    Kevin Pistole
    ​NMLS# 1310964

    Kevin is a Sr Loan Officer with Geneva Financial, LLC and is licensed in AZ, CA, and WA.

    Archives

    November 2019
    August 2019
    June 2019

    Categories

    All
    Family
    First Time Home Buyers
    Home Location
    Pets

    RSS Feed

Back to Blog

Younger Americans want in on Homeownership.

8/5/2019

 
Homeownership is slightly down from Q1 to Q2 this year. It's no surprise that the senior population still had the highest rate at 78% for Americans 65 and older. Which came down from 78.5%. But the younger generation are the ones making the largest movement going from 35.4% to 36.4% from Q1 to Q2, which is the largest increase of any age group.
Picture
Zillow's data suggests that the decline is due mainly to affordability and many homeowners not able to save up enough for a down payment.

Earlier this year Realtor.com published a report that showed Millenials surpassed Generation X as the group most responsible for the new mortgages in 2018. Since then, Millenials' share of the mortgage market has continued to rise.

By the end of 2018 Millenials represented 45% of all new mortgages, compared to 36% for Generation X, and 17% of Baby Boomers.

In Nov 2018, Millenials finally overtook Generation X as having the largest share of new loans by dollar volume, with a share of 42% in December, compared to a share of 40% for Gen X and 17% for Baby Boomers.

The big takeaway is that Millenials are willing to take on larger mortgages than any other generation to fulfill their dreams of homeownership.
0 Comments
read more



Leave a Reply.

Picture
Picture

Kevin Pistole | Sr Loan Officer | NMLS# 1310964 | C: 425-478-7300 | O: 480-234-4695
​Geneva Financial, LLC | 4417 N 40th St Suite 300, Phoenix, AZ 85018 | NMLS: 42056 | BK 0910215
Visit Website Home Page: ​https://genevafi.com/kevin-pistole
Geneva Financial LLC does Business in Accordance With the Federal Fair Housing Law. Geneva Financial LLC is not acting on behalf of or at the direction of HUD/FHA or the Federal Government. Geneva Financial LLC is approved to participate in FHA programs but the products and services performed by Geneva Financial LLC are not coming directly from HUD or FHA. *The Product/Program information contained here is educational only and may not represent actual rates or financing terms. | Eligible Products – Purchase in Arizona Other conditions and restrictions may apply. Rates and available loan programs are subject to change without notice. Contact your loan officer for more information.
Want to know more about other loans we offer? Click on the following links: Stated Income Loans | Bank Statement Loans