Posted To: MND NewsWire
Several entities that wonder about such things have commented recently on the apparent reluctance of homeowners to sell their homes. Historically Americans have tended to buy their first home at a certain age, and move up into a newer, larger, better located, or more amenity laden home a few years later, and then perhaps move again to downsize or relocate to a more suitable place for retirement. Now, not only are they buying that first home later than their predecessors, but once settled in, they tend to stay there . This has had ramifications for potential buyers as inventories of existing homes for sale are at record lows . This lack of mobility was initially blamed on the lack of home equity following the housing crisis. This locked homebuyers into place, either because the sale price failed...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/2rkNvm9
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