We all know that the millennials are going to be the largest cohort of homebuyers for quite some time to come. It’s no wonder then that researchers are devoting significant time to determining where they are buying now and where they will buy in the future. In the ongoing quest to understand millennial homebuying, one thing is clear — people buy where they can afford to buy. The fundamentals are simple: a combination of jobs and adequate inventory at the starter level result in more millennials feeling ready for homeownership. Various reports charting potential millennial homeownership often come up with different results for which cities top the list depending on the data used, but there is a similarity, millennials can’t afford to buy in big cities. The most recent report from Lending Tree looked at mortgage requests and offers for the 35 and younger set from Feb. 1, 2017 to Feb. 1, 2018 compared to the total population of mortgage-seekers. Even in the top cities for mi…
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