Gen Y: buying homes now

Statistics show that Gen Y is buying homes earlier.  Many of Atlanta’s home builders that build predominantly for the entry level buyer are experiencing this growing trend first hand. According to the National Association of Realtors, the number of buyers under the age of 25 increased from 11 percent in 2001 to 14 percent in 2005.  Gen Y has realized the power of owning a home early on and is taking advantage of tax savings while building equity.   Additionally, it is a lot easier to get a loan for a home today than it was in previous decades. With 0% to 5% down much more common today than 20% down, money has become much more affordable to borrow.  Combine that with today’s low interest rates and Gen Y has figured out the American dream.