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Welcome back, everyone. Today we are answering a question we recently got from a potential buyer. With low interest rates and down payment programs available, a lot of people are asking us, "Do you see Millennials buying more homes in 2015, or continuing to rent?"
When the job market collapsed in 2009, there were a lot of college graduates who had a tough time finding a job. Since then, the market has improved drastically and most of these early millennial graduates have stable jobs and a stable income. They have also been able to save up some money, and are now in a position to buy a property. Without a doubt, we are going to see many more millennials coming into the marketplace in the next 5-7 years.
In Austin, we expect to have a very strong year in 2015, with a lot of millennials entering the market. Interest rates continue to be at an all-time low and there are brand-new 3% down payment programs available. The savings alone on your interest rates will increase your spending power and save you on your payments for a short time.
If you have any questions for us, feel free to give us a call or send us an email. It would be our pleasure to help you.