![]() ![]() ![]() And it looks like we're operating in that zone right now," Middleman said. I think you have a really healthy ecosystem that is supporting itself, driven by supply and demand. "As everyone responds to the current market conditions, that will drive the price up and encourage homebuilding. ![]() However, a boost could ultimately be coming, as housing starts are projected to bring relief to the shortage in the approaching months, according to Fannie Mae. Supply is especially lacking at the bottom end of the market, where most first-time homebuyers target. When inventory's at a premium like it has been lately, it drives up prices. Realtors get paid to sell as much house as they can for the money, lenders don't." "I don't think there's enough 'what should I do' decision making. Instead of it being 'what could I do,' it should be 'what should I do,'" Middleman said. SellerMIDDLEMAN ROSLYN & STANLEY-TRUSTEES. "It doesn't hurt you to buy less home than you can afford. 33 Galloping Hill Rd, Cherry Hill, NJ 08003 is a 4919 sqft home sold on. With too many people looking for too much help, the quality of credit deteriorated. The housing crisis stemmed from buyers doing the opposite. Following that trend helps potential buyers lock down a home. Median down payments recently hit one of their highest levels ever, according to Attom Data Solutions. Of course, there's no shame for consumers to save money and shop within their means. But I think the biggest thing I'd recommend is people buy homes they can afford," Middleman said. There are states and municipalities that have all kinds of assistance programs. VA loans allow people to finance up to 100% of the loan amount. Perhaps the biggest lesson learned from the housing crisis was the risk of consumers who stretch themselves too far on how much home they can afford. The best way for buyers to compete is to fight in their weight class. Of them, 61% are millennials, according to Zillow. That's especially true for first-timers, which account for nearly half of all home purchases. It's never easy for consumers to make one of the most important, and expensive, purchases in their lives, especially in a competitive marketplace. The increasingly tight housing market adds further complications for consumers making the biggest purchases of their lives. "If it's good for the consumer, it's good for the industry," he said. ![]()
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