An expert joined ABC13 to talk about the trends we're seeing with Gen Z and millennials looking to buy a home.
ABC13 takes a look at the real estate market and how it's affecting first-time buyers, specifically Gen Z and millennials.The country is experiencing the highest mortgage rates and home prices in a generation, and a lot of people are having a hard time saving up for a down payment.
Local real estate expert Tricia Turner said the pandemic is behind us, but there are still lagging factors from lockdowns impacting the market. Many young people moved in with their parents, and now those relatives are ready for their kids to relaunch.Turner also explained that there's other assistance available for first-time home buyers, even if they don't have family members who can help them with money for a down payment.
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