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Starter homes: Most U.S. millennials lack down payment
By reinvestor on April 25, 2016
John Bazemore/AP
WASHINGTON (AP) — Short of savings and burdened by debt, America’s millennials are struggling to afford their first homes in the face of sharply higher prices in many of the most desirable cities.
Surveys show that most Americans under 35 lack adequate savings for down payments. The result is that many will likely be forced to delay home ownership and to absorb significant debt loads if they do eventually buy.
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