Millennials – Strongest buyers in the real estate market right now?
SAN DIEGO (KUSI) – It is anticipated that millennials are to inherit over $68 trillion from baby boomer parents by 2030 which is one of the greatest wealth transfers in the modern times, according to Realtor Kara Kay.
Parents are giving their millennial children major down payment assistance.
About 37% so over a third of our buyers are coming from one generation
For the amount of millennials receiving down payment assistance, there are equally as many savvy buyers who are taking advantage of lower down payments in order to obtain an asset and create a forced savings, according to Kay. “There are many different options for putting 3.5-5% down on a property as opposed to the 20% we see when someone is getting assistance from a family member.”