Millennial Homeownership Surges Across California and Major U.S. Cities
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Millennial Homeownership Surges Across California and Major U.S. Cities
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Ed Parcaut and Mike Kelly cover falling national inventory, rising price reductions, record homeowner equity, FHA and VA mortgage distress, assumable VA loans, self-employed borrower rules, and millennial homeownership.
National inventory moved to 865,709, median list price fell to $448,665, and price reductions reached 41.44%. At the same time, homeowner equity hit a record $18 trillion, while more recent FHA and VA borrowers showed higher levels of negative equity and default.
Ed also explains how VA assumptions may help military families relocate and why changing from W-2 employment to contract work can delay mortgage qualification.
A full Real Estate Jerky market update with something to chew on.
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