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Report: Will Millennials Be Metro Detroit's Next Homebuyers?

May 16, 2017

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A recent study on millennial homebuyers conducted by Michigan State University’s master of science in marketing research program and United Shore Financial Services in Troy revealed that 96 percent of millennials in metro Detroit would be more inclined to buy a home if they were aware that a down payment on a home could be the equivalent of two months’ rent.
“You have to get millennials off the fence to start bidding on homes and buying homes and starting the process,” says Mat Ishbia, United Shore president and CEO. “Housing inventory will open up once you have more people out there trying to buy homes. A lot of people don’t know the opportunities that exist because they think they need a 20 percent down payment or a 30 percent down payment.”