The Expectations vs. Reality Gap: Millennials Want to Buy a Home within a Year, but Saving Takes up to 10 Years
Point2Homes
NOVEMBER 22, 2020
The national average down payment is about $62,000, but 40% of Millennials expect it to be less than $10,000. What’s more, 61% of young people have less than $10,000 in savings. Considering savings rates, median incomes and median home prices, the time needed to save for a 20% down payment in the 100 largest U.S.
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