From TRD South Florida: An estimated 3 million new homebuyers over the past decade have been shunned from the market and it could be hindering a housing market recovery, according to a new study by Genworth Mortgage Insurance that will be released Thursday.
Factors deterring young people from venturing into buying their first home include shortages in affordable housing, tighter lending standards, looming student loans, and higher rent prices, according to a report in the Wall Street Journal. Genworth performed the study by analyzing mortgage data from Fannie Mae, Freddie Mac, the Federal Housing Administration, and Veterans Affairs among other sources.