How Attainable Is Homeownership for First-Time Buyers?
The Pro Builder
SEPTEMBER 4, 2024
Buying a home in the current market is challenging, but especially for first-time buyers as they typically have lower incomes and less established credit compared with repeat buyers. According to personal finance company NerdWallet’s First-Time Homebuyer Affordability Report for Q2 2024, the housing payments on a typically priced home would consume nearly half of the median gross monthly income for first-time buyers.
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