Millennials are talked about frequently with respect to home buying, but at the Housing America’s Families Forum last week in Dallas at the George W. Bush Presidential Library, attendees got to hear from the source, reports HousingWire Editor-in-Chief Jacob Gaffney.
As part of a millennial panel, Fritz Waldvogel, who originates mortgages for Dougherty Mortgage, said “people are moving where the jobs are,” when asked why more millennials aren’t purchasing homes.
The panel of millennials also agreed that mortgages may offer too large a commitment for those mobile professionals in their 20s.
The problem is that the cities that Millennials want to move to — the Nashvilles and the Denvers of the nation — are not unlike coastal cities in that there simply isn’t enough affordability to make the leap.
“Cities are handcuffed by lack of affordable housing,” said Kimble Ratliff of the National Multifamily Housing Council.