MILLENNIALS PUT OFF MAJOR LIFE MILESTONES UNTIL THEY BUY A HOME

Although many millennials want to adopt a pet, get married, and have children, several are waiting to become homeowners first, says Realtor.com’s Clare Trapasso. A recent survey from LendingTree reports almost a quarter prioritize buying a home before marriage, 27% want a home before children, and 22% want to own before a pet. See other interesting findings from the survey below.
Other big findings: 43% of respondents who are first-time home buyers, of all ages, are single; about a quarter have lousy credit; and the overwhelming majority, 79%, are in debt.
"People are getting married at later ages or are separated or divorced," says Kapfidze. But he wasn't terribly worried about the debt—provided it's not too high and is being managed responsibly.
"The majority of people are in debt. If you own a car and you have a car note, you're in debt. Even if you lease your car, you're in debt."
First-time buyers, who tend to be younger, are typically the most cash-strapped, so they're looking for homes priced at $150,000 or less. That's just half of the national median list price of $300,000 as of March 1, according to the most recent realtor.com® data.

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