Gainesville Residents are Not Scared by the Housing Crisis
In a study conducted by Integra Realty Resources, an independent real estate valuation firm, 75% of Americans still aspire to own a home and considers home ownership as one of life’s major goals. This population of home-dreamers is based on a new poll of non-home owners aged 22 to 50.
According to the study, Americans continue to be enthusiastic on home ownership despite the housing crisis that significantly dropped housing prices in many markets.
Gainesville Florida has seen a decrease in inventory due to high demand while home prices are still slightly decreasing. The decrease in pricing is attributed to Gainesville Short Sales and Foreclosures. However, there are still issues with quality sound buyers obtaining financing.
The research study further revealed that non-homeowners under 30 years old are even more positive about home ownership than those above 30, to which, 47% of respondents under 30 strongly believes owning a home is still important compared to those above age 30 at 41%.
Despite the increased appetite of Gainesville Florida home ownership, many Americans feel they are left on the sidelines as they are unable to obtain any of the record-low mortgage rates or even those of record-high housing affordability. Moreover, the younger generations expressed their struggle to come up with the finances needed to buy a home in the face of increased job instability.
31% of all respondents say they can’t buy a home due to lack of down payment while 24% are holding off for fear of bad investment and 21% say they are not buying any soon considering the uncertainties of the economy.
It is unfortunate for the parents of the younger generation. Many have purchased properties for their college bound students to avoid paying high rents and get a return on their investment to only be stuck with the underwater properties today. This is where an experienced Gainesville Short Sale Agent can assist the parents even though this property is considered an investment home.
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Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.
Please seek legal advice. This information is for informational purposes only.