It's true... I'm not the spring chicken I once was . But one thing I do know that that this idea of young people not wanting the responsibility of owning their own home because they're young is not true. It seems that the young who do want to own do not have the upfront capital to put down, they just don't make or save enough money, and cost of basic living hasn't been kind.
Two of my friends closed on their homes in the last year, a 21 year old bought his home in Dearborn Heights and the 24 year old bought in Hazel Park. Both are young men who have good paying jobs, no children out of wedlock, and had handholding through the lending process. That seems to be the winning combo. I wanted my own home when I was their age too, but life happened and the money just wasn't there. And thank God, because that was during the build up to the housing bubble.
Homes dont have to have 3500sqft and a massive yard. But 1500/2000sqft and a little yard is normal in most urban areas that aren't New York. Living in large spaces is part of our culture in Detroit, ask anyone who's lived here for more than 5 minutes. Good luck to the microminnies though, to each their own.
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