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NOTEBOOK – ONE GOOD READ: First-time homebuyers are getting squeezed out by investors


Investors made up a larger proportion of home sales in 2021 than in 2020, with sales to first-time homebuyers falling to 27% in January compared with 33% a year earlier. Lawrence Yun, chief economist for the National Association of Realtors, said typically about 40% of home sales go to first-time buyers and the surge in cash offers from investors is making the chance of owning a home and building equity more difficult for home seekers. While housing supply is currently reaching historic lows, Yun said ever since the 2008 recession, the country has lagged behind the average 1.5 million new houses needed each year. “We’re moving in the right direction. But I would still say that we are short by 3 or 4 million housing units in America, so we still need to ramp up supply,” Yun said in the article from NPR.

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