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California Real Estate Industry News from C.A.R. June/July 2016

California Real Estate — June/July 2016 Change Language: ChooseEnglishAfrikaansAlbanianArabicBulgarianChinese (Simplified)CroatianCzechDanishDutchEstonianFilipinoFinnishFrenchGalicianGermanGreekHebrewHindi

Financial Wellness most important for Millennial couple as they enter the Home Buying Market

From USA Today Is American dream in peril for Millennials?


WASHINGTON — Doing the math left them uneasy. The stress of it all led to a near-meltdown one day on a trip to Home Depot.At their most optimistic, affording a house seemed just within the realm of possibility for Elizabeth and David Glidden, both 26. They had saved enough for a 10% down payment. But as they searched for a home, ownership became tenuous when the couple considered their monthly expenses.Buying meant giving up a relatively inexpensive rent-controlled apartment — a one bedroom for $2,150 a month, including utilities. On top of that, the neighborhoods they could afford would add transportation costs of up to $300 a month because they would no longer be able to walk to work. If they bought a condo, there would also be monthly association fees.