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6850 Main St
Miami Lakes, FL, 33014
United States

1-305-606-9032

South Florida Realtor Associate with extensive local knowledge, living in South Florida for over 15+ years.

Looking for a new place wether is renting, buying, leasing to own, or buying and investment property in South Florida real estate? You have come to the right place. I will help you find the perfect real estate property from new construction, single family homes, apartments, town-homes, lofts, condos, and pre-construction developments that will fit your needs in a hassle free process.
Jose Azuaje is very familiar with the areas of Miami-Dade, Broward, and West Palm Beach. 
Looking for a property outside the USA? I can also help you find your dream home anywhere in the world with my extensive network of international brokers.

My goal is to attend to my client's needs in every step of the real estate transaction. Nacido en Venezuela hablo español.
 

Blog

Welcome to my blog, here you can find different articles from how the housing market is doing, to other types of tips relating to the real estate industry.

I also like to feature different developments that are being built or will be built around South Florida. For more detail information on these amazing developments follow the links on the blog articles, or click on New Construction on the top navigation bar of this site.

I also like to read your comments, and if you stumble upon an article you think will be valuable to someone you know please share it, or like it using the buttons at the end of the articles.

Thank you for visiting my blog.

Sincerely,

Jose Azuaje

 

Is The Current Generation Taking Longer To Buy Their First Home?

Jose Azuaje

ThinkingOfBuyingAHome

The short answer is yes. Currently Generation Y or Millennials (people ranging from birth years 1980 to 2000) are currently taking longer to dive into their first home purchase than their predecessors. 

The average age for a first time home buyer now days is 33 years old, which is on the upper edge of the Generation Y population. The previous generation had an average age of 3 years younger when they first bought a home.

So why is this happening to Generation Y? Below are a few of the reasons:

  • The average first time home buyer now rents for 6 years prior to buying a home, up by 2.6 years for the 1970s.
  • Rents keeps raising making hard for them to save up a down payment, and get qualified for a mortgage.
  • They are facing adulthood from marriage, children, to a stable career later on in their life.
  • House prices and income ratio, their purchase price is now substantially more, relative to their income, than it was decades ago. First-time buyers are paying a median price of $140,238 nearly 2.6 times their income. In the early 1970s, the starter home was just 1.7 times income.

All of these reasons show why home ownership among the United States population have declined, the amount of people in the United States population that owns their own home is at a all time low in 48 years.

Generation Y (Millennials) are still very interested in buying a house, but are delaying that decision to later years on their life as they mature into adulthood. A great opportunity for them is having some of the lowest interest rates in history, so hopefully we will start seeing a raise on the amount of home ownership amount this group.