Millennials have a complicated view of homeownership. They’re stressed about buying a home but are still desperate to purchase one. Most don’t have nearly enough money saved for a down payment, yet they’re unwilling to make financial sacrifices, such as spending less on coffee or vacations, to save. Most already have a lot of debt but are still willing to take on a mortgage with a high interest rate.
These are some of the findings from a new Clever Real Estate study that investigates millennials’ outlook on home buying. The study finds that this generation is anxious and reckless — but motivated to buy a home.
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