Since the bubble in 2005, the number of homeowners have grown and is at a record high in 2015. As of 2015 100 percent of home owners in the King County that has seen growth in numbers are of the group aged 55 and over while the biggest decline was seen in the 35-55 age group. You may ask how is this possible but there are many different factors that made this happen, for instance, the baby boomer generation has been homeowners before hand and has now aged to where they are in the next bracket which causes the statistics to move up as well as many older people are coming to Seattle to retire or relocate. As for the 35-55 age group, they were in the mist of the big bubble and while some prevailed many lost their homes and with that effecting their credit it may become difficult to purchase another home, along with the rising rents. While the national homeownership stats are way down by 25 percent for aged 35 and younger, King County has only dropped in 1 percent compared to the national number. Even though the market is competitive, job opportunities here has let the millennials get good paying jobs and purchase as first time homebuyers, deferring from the rising rent.
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Author:Daniel Kim Phone: 206-483-6180 Dated: November 15th 2016 Views: 538 About Daniel: ...
With over 50 years of combined experience, Justin and his team takes real estate transaction to a whole new level by simplifying the steps which otherwise can be very complex and stressful. Throughout the transaction, clients are well informed through open communication lines and they are available to respond quickly and turn around offers and counter offers in a timely manner. His team consistently exhibits the knowledge, value and dedication that have earned them a reputation as one of the most trusted and admired real estate professionals. Justin specializes in homes in North King and South Snohomish county homes and condos including Mill Creek, Bothell, Lynnwood, Seattle, Bellevue.
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