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And, in addition, who isn’t buying and what are some of the reasons for them staying out of the market?
Is an issue preventing the purchase of real estate an inability to save for a down payment or possibly qualify for a mortgage? Is it the other debt on the books of potential homebuyers such as student loans and credit cards (Household Debt Chart: How much do Americans owe?) that’s getting in the way?
Does the hesitation to ‘pull the trigger’ stem from a rent vs. buy analysis that they’ve done or possibly because they believe that this is not a good time to enter the market because prices will be lower in the future?
Do generational factors come into play in determining who is in the market for real estate?
Do the different age groups (Generations X and Y, Younger Boomers, Older Boomers and the Silent Generation) look for different things in the real estate professional that they ultimately choose to work with (Why you need to use a real estate agent, Part 2! (Infographic))?
This short video from the National Association of Realtors (NAR) discusses the annual report that they compile which examines whether any generational trends in the home purchase and home selling process may exist.