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A national study done by the Chicago-based Family Housing Bureau dispells a lot of myths about the buying of first homes. Here's a few.
MYTH: First-time home buyers have been driven out of the market by escalating costs. FACT: The survey showed that 44 per cent of today’s home buyers are first-time buyers.
MYTH: Young people cannot afford homes anymore. FACT: Eighty seven percent of first-time buyers are younger than 35 with the average age being 28.
MYTH: Costs for single-family homes have risen so sharply that most home buyers are turning to multi-family solutions. FACT: Ninety percent of first-time home buyers
83.4%