Survey: How are millennial home buyers saving to buy their first home? Millennials’ interest, and their perceived lack of interest in homebuying, has drawn many headlines over the last few years. Most of that attention is rightly focused on student loan payments weighing down this generation in debt. Today's average student debt has ballooned to $37,000. These sky high monthly payments coupled with raising rents and cost of living in metro areas -- hello, avocado toast scandals -- has made it nearly impossible for many millennials to afford a monthly mortgage payment, let alone a down payment on a home. So, will they or won't they? To put it bluntly: millennials are interested in buying homes -- it's just too expensive to do so. The National Association of Homebuilders has previously found that more than 90 percent of millennials say they eventually want to buy a house. But, median down payments on homes have risen to a three year high of $1...
Contador Auditor | Consultor Freelance