Starter Homes for Future First Time Home Buyers

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Affordability and manageable maintenance of properties, typically on the smaller side, has attracted first-time home buyers for decades. However, as anyone who has purchased a home in the last few years will tell you, it’s a competitive and pricey market for homes of all varieties, and many wonder if starter homes are still a viable option. Purchasing a starter home was once almost a near-universal tradition amongst young homebuyers, so what’s caused the sudden shortage of starter homes, and what does that mean for the future? Things Changed After 2008 Prior to the 2008 housing market crash, homebuilders sought the more lucrative contracts that came hand-in-hand with larger homes. This makes perfect sense; sub-prime lenders were abundant, which made for an easy mortgage market, subsequently allowing buyers the opportunity to afford more square footage. ...

Source: https://www.theepochtimes.com/the-futur ... 58001.html