Combined, those two factors can make it very challenging to break into the housing market.
Currently, it represents about 3% of the housing market, although that rises to 5% among first-time buyers, according to NAR.
Imagining a 20% down payment, for instance, may cause potential buyers to throw up their hands in despair.
So there is wiggle room, and you might be more equipped to buy on your own than you think.”Nonetheless, the harsh realities of the housing market may dictate more co-buying in future.
With high prices and high interest rates, some potential buyers may not have much of a choice – and this relative rarity in the real estate world may soon become more common.
Persons:
Dorothy, Blanche, Rose, Sophia, “, I’m, ”, Jacob Channel, Gus Gibbs, Gibbs, Jessica Lautz, Howard Pressman, Lauren Young, Aurora Ellis
Organizations:
LendingTree, National Association of Realtors, Federal Reserve, NAR, “, Housing Administration, Thomson
Locations:
Boise , Idaho, Vienna , Virginia