Gen-Y can afford real estate
Lani wrote an interesting post on GenY & Why Redfin Works and some of the commenters seem to think that Gen-Y can’t afford real estate. Those folks must have missed the TechCrunch article on the $95,000+ offers that college kids are getting at Facebook and Google. Granted that is the Bay Area but Seattle numbers aren’t that far behind (~$65-$80,000). It only takes a year or two of earning close to $100,000 including bonuses and living a college lifestyle for a Gen-Y kid to be able to afford a down payment on a condo.
February 6th, 2008 at 1:30 am
Hi Matt, Benn from agentgenius
I do not believe that the agents in the comments said genY couldn’t afford to buy, it was actually a lender- I’m not sure if he knows something I do not, but it has not been my experience at all- most of my clients are Y.
I believe there has been a lot said about California, Seattle, and even Boston for that matter that the first home buyer is pretty crashed. I’m not sure if that’s actually true, but I would imagine thats hitting all generations… I’m not i Seattle, maybe you can shed some light.
Thanks for reading and trkbk