December
31
2010
As sure as a 1200 pound glittering sphere will descend on the Big Apple and a 1250 pound copper and steel “acorn” will drop in Raleigh, 2011 will arrive and compel us to come up with some New Year’s Resolutions. I take my New Year inspiration from James Brown…as nothing beats “Papa’s Got a Brand New Bag” for cleansing one’s palate on an annual basis. Then, I contemplate the top trending resolutions for Raleigh (found here) and pick a few. Why reinvent the wheel?
Now, if I were a 25-34 year old (if only), I’d be including “buy a home” among my 2011 goals. (After all, losing weight, getting a new job, and having clear skin all seem so cliché). Apparently, homeownership is not an unusual quest among that demographic…perhaps strongly encouraged by parents anxious to get the kid out of the basement. There are lots of benefits for the potential young Buyer…plentiful selection, increased affordability, low interest rates, and not having to share the bedroom with the hot water tank.
According to the 2010 Profile of Home Buyers and Sellers compiled by the National Association of REALTORS®, 25-34 years olds did comprise the largest group of Home Buyers in 2010 (36%). That figure has been pretty consistent the past few years. It also jives with a chart created by economist Tom Lawler that compares the number of under-35 year old homeowners with those 25-34 year olds living with their parents. While the number of those under 35 living with Mom and Dad has jumped up, the strong inverse relationship may suggest a pent-up demand among that demo for a home of their own in 2011.
So…if you’re between the ages of 25 and 34…buy a home in the New Year. There’s never been a better time. Then, come New Year’s Eve 2011, you’ll be able to play Charles Brown’s “Bringing In A Brand New Year” at full volume without disturbing the folks. Now that’s a resolution worth seeing through.
Now, if I were a 25-34 year old (if only), I’d be including “buy a home” among my 2011 goals. (After all, losing weight, getting a new job, and having clear skin all seem so cliché). Apparently, homeownership is not an unusual quest among that demographic…perhaps strongly encouraged by parents anxious to get the kid out of the basement. There are lots of benefits for the potential young Buyer…plentiful selection, increased affordability, low interest rates, and not having to share the bedroom with the hot water tank.
According to the 2010 Profile of Home Buyers and Sellers compiled by the National Association of REALTORS®, 25-34 years olds did comprise the largest group of Home Buyers in 2010 (36%). That figure has been pretty consistent the past few years. It also jives with a chart created by economist Tom Lawler that compares the number of under-35 year old homeowners with those 25-34 year olds living with their parents. While the number of those under 35 living with Mom and Dad has jumped up, the strong inverse relationship may suggest a pent-up demand among that demo for a home of their own in 2011.
