Top 6 Reasons Why Millennials haven't purchased a home
The answer must be student loans, right? Wrong! While paying back an education is part of the equation for some, it is not the only factor that holds Millennials back from buying their first homes.
A survey of young renters by Fannie Mae found that the factor that delays the most potential buyers is an insufficient credit score or history (53%), followed closely behind by “affording the down payment and closing costs (50%).”