Episode 66, Part 1: Home Buying Is At Its Lowest Percentage in 48 Years
Mark Hairston and Andrew Thurston of Supreme Lending sit down to discuss the surprising news that the current percentage of home-buyers is at its lowest in 48 years.
Why are we at a 48-year low?
"The housing crisis back in '08 is still affecting us, though in Austin we have been protected from it moreso than in other areas in the United States - but it seems like some people are still too scared or think it may be too difficult to buy a home," Andrew speculates.
"Also, it seems like a lot of millennials are okay with putting home-ownership off," Andrew says.
"I'm definitely seeing that," Keller Williams agent Sean Sutton agrees. "But it's the opposite of what they should be doing! The sooner you can buy a property, the sooner you can start building that real estate wealth. More millionaires have been made through real estate than any other platform!"
Mark adds, "The economy isn't doing so great and the rates are pretty low right now, so it's a great time to buy."
"I've been seeing refinances go up as well," Andrew says. "People who got mortgages in the past two or three years are even refinancing already."
"However, at some point rates will go up, so it's smart to get in now," Andrew advises.
If you're interested in buying a home in the near future, contact Keller Williams Luxury Home agent Sean Sutton at (512) 988-7827 or email him at email@example.com.