Job Growth And Millennial Home Ownership May Have Direct Correlation

Data suggests that many millennials are waiting until the job market improves before buying a home. While home affordability has bettered, and interest rates remain fairly low, the majority of the millennial generation is delaying home ownership until they have landed their first professional job. Experts say that millennial home ownership and job growth have a direct correlation and should be watched closely. Jed Kolko, the chief economist at Trulia said, “we should watch closely whether millennial are getting back to work. For millennials, having a job is key to forming households and becoming homeowners. One of the most important measures of the housing market will come in this Friday’s jobs report, when we’ll see whether more young adults have gone back to work.”  Additionally, the jobless rate for people ages 25 to 34 sits at 6.9%, and the national jobless rate comes in at 6.1%. More here#img1#

Reverse Mortgages Gaining Positive Attention

Reverse mortgages have begun to gain more positive attention as new laws make the option more attractive to both borrowers and loan officers. In the past, there were some concerns, but now that new laws protect the borrower, the option has become safer, and ultimately, more appealing. Reverse mortgages have ensured that many older Americans can stay in their homes by tapping into their home equity, and it’s overall popularity is rising. Many experts are now promoting reverse mortgages to older individuals as a way to escape financial hardship. More here