How long does it take to save for a down payment on a home? More than the average life expectancy if you’re a Gen Z buyer in Irvine, Calif., but just around two years if you’re a higher-earning Gen X buyer in some large Midwest cities. Analyzing income and home price data for the 100 most populous U.S. cities, saving for the standard 20% down payment for a median-priced home would take between two and…
Despite mortgage rates reaching historic lows, housing affordability continues to erode in the country’s largest and most in-demand cities. In a year as volatile and uncertain as 2020, the effect…
Almost a year ago, COVID-19 was declared a global pandemic, and, as lockdowns swept across the country, many companies quickly transitioned to remote work. Even now, many people are still…
Mortgage affordability in Canada has eroded sharply in the past decade. In fact, in the last 10 years, the share of income needed to afford a mortgage has gone up exponentially, with monthly mortgage payments becoming a financial burden for increasing numbers of homeowners across the nation. Exacerbating the problem, the COVID-19 pandemic forced homebuyers to completely rethink their needs and buying strategy. Demand for larger homes has been on the rise, while the building…
Working from home and more flexibility was the ideal scenario everyone had dreamed of prior to the pandemic. But working from the kitchen table during lockdown and the flexibility to…
[metaslider id=”137832″] Most Millennials tend to greatly underestimate the amount of money they will need for a down payment. The national average down payment is about $62,000, but 40% of…
This year, Canadians are being advised to avoid non-essential travel outside of the country. So, for around one million retired and semi-retired people, going south to escape the long, dark winter days and the bitter cold is no longer an option. Florida’s white sand, natural beaches. Arizona’s stunning desert scenery and peaceful vistas. California’s ocean fronts, dreamy views and amazing outdoor activities. These are just a few of the sunny locations and luxurious conveniences that…
Almost overnight, our homes became our everything. But after forcing everyone inside, the pandemic laid bare the inadequacies and shortcomings of our homes. Families with children cooped up in two-bedroom…
With interest rates on the floor and work-from-home slowly becoming work-from-anywhere, buying a second home, or a vacation home makes more sense than ever. As families have been forced to…
![[Generational Study] Buyers Want a Big(ger) House, but Saving for Down Payment Takes Up to 94 Years Years Needed to Save for a Home Down Payment B](https://www.point2homes.com/news/wp-content/uploads/sites/94/2021/03/Years-Needed-to-Save-for-Down-Payment-B.jpg?w=750)

