Will first-time homebuyers save California’s homeownership rate?
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What is the average age of your first-time homebuyer client today?
- 30-35 years. (37%, 55 Votes)
- 35-40 years. (33%, 48 Votes)
- 25-30 years. (30%, 44 Votes)
Total Voters: 147
California’s potential first-time homebuyers (aged 25-34) numbered 5,404,486 in 2011. At the same time, the state’s homeownership rate stood at 55.3%. California homeownership has dropped steadily during 2012. It will level off around 2016 as a wave of now-tenants enter (or re-enter) the market as buyers.
California’s homeownership rate continues its fall in the aftermath of the Great Recession. Will the next wave of first-time homebuyers bring a sea change?
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loading...About The Author
Carrie B. Reyes
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California is on a 8-12 year cycle since WW2. When the high school & college grads buy with EMOTIONS, they become the 1st time “consumers” not “investors”. If they buy at the bottoms of the market, they are REAL FRUGAL INVESTORS AND IF THEY SELL AT THE TOP, WHICH IS TOUGH AND EMOTIONALLY DRAINING, THEY will make a BRUTAL SCARY KILLING. Some will make as much as 1000 to 3000% on their down payments…. Yes, that much if they buy @ the low and sell @ the top. But most, sorry to say, learn from mistake, and not from GRAPHS & CHARTS…. This Real Estate Cycle, then burns the 1st home buyers (if they sell wrong or hold too long) and then the 2nd time they experience this LOW to HIGH, they will buy & then sell @ the top if their “significant other” agrees to sell too @ the top without EMOTIONS…. I have done this buy low and sell high since 1976 and if your EMOTIONAL, this is a TOUGH DECISION (almost as tough as divorcing) your wife or girlfriends to make HUGE IRR RETURNS. I have averaged 27.12% net net net per month from 1999 to 2008 on 198 sale escrows, and this is with RAW MATH ANALYSIS & ZERO EMOTIONAL INPUT!
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