Over at CNBC’s Realty Check, Diana Olick reports that first-time homebuyers are largely sitting out this housing recovery, and while affordability is the main reason, it is not the only one.
“It could also be they just want more than their parents did. Three-quarters of first-time homebuyers say they are looking for a home that will serve them long term, perhaps accommodating a family. They claim they don’t want a starter home. That’s according to a new national survey by Bank of America of more than 1,000 adults age 18 and over who want to buy a home in the future.”
