Generation X: The Ones Having a Hard Time at Buying Homes

Know the facts and how they compare to other demographics who came before and after.  

It may be obvious to think that Millennials are the ones having harsher difficulties at saving money for a new home, due to their laid back attitude and a widely spread perspective that sees them as weak-willed. But according to recent reports, Generation X bearers (those born between 1965 and the early 1980s) are the ones struggling the most to accomplish the homeownership goal.

Generation X is in the age range where Baby Boomers were able to buy their second or third home. In fact, many of those are back to the starting point, looking to re-enter the housing market as first-time homebuyers for the second time, notes a Wall Street Journal report.

“There are now three million more renters in their 30s and 40s today than 10 years ago, even though the number of households in that age bracket declined, according to data from the Harvard Joint Center.” The WSJ stated. 

Those who belong to that demographic and who are not currently homeowners may have complications in the near future. Rising rental costs and increasing home prices can make it arduous to save for down-payment.

In addition, Generation X buyers are not the only ones struggling, because older Millennials are now entering the range of first-time homebuyers, and we have to consider the fact that many are just starting their families and careers, making them part of the largest share of non-owners at this time.

Believing that everything has been said about Millenials and Baby Boomers, it can be easy to forget the Generation X, arguably the smallest group between these two demographic giants. On the other hand, Xers have the highest income of all generations right now despite all the mentioned challenges they face according to a report from the National Association of REALTORS®. 

The REAL Helpers bridge the gap between the haves and haves not. In short, our mission is to help people who are struggling to become homeowners and have no way to get ahead of their monthly expenses. We freely offer our service to the people that need it most, with the hope of strengthening our economy one family at a time.

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