LA, OC lead nation in lowest number of young homebuyers: ApartmentList
The affordability crisis is hitting younger buyers in Southern California harder than anywhere else in the country. Roughly one in 10 adults ages 25 to 34 own homes in the Los Angeles metro area, representing the lowest share among major U.S. metros, the Los Angeles Daily News reported, citing a new study from ApartmentList based on Census Bureau data. The report confirms that soaring home prices, elevated mortgage rates and stubborn inflation are pushing would-be buyers out of ownership and deeper into the rental market. The Los Angeles-Orange County metro posted a young adult homeownership rate of 10.5 percent, with […]This article originally appeared on The Real Deal. Click here to read the full story.
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