Six out of 10 millennials between the ages of 22 and 25 said they have already started saving for retirement, according to a new survey by Wells Fargo. The focus of the survey is to understand how millennials are planning for retirement.
Fannie Mae’s “What do consumers know about the Mortgage Qualification Criteria?” Study revealed that Americans are misinformed about what is required to qualify for a mortgage when purchasing a home.
- ‘Old Millennials’ are defined as 25-36 year olds according to the US Census Bureau.
- According to NAR’s latest Profile of Home Buyers & Sellers, the median age of all first-time home buyers is 31 years old.
- More and more ‘Old Millennials’ are realizing that homeownership is within their reach now!
In the United States, Hispanics make up the youngest major racial or ethnic group, according to the Pew Research Center. In their analysis of U.S. Census Bureau Data, the Pew Research Center also discovered that “about one-third, or 17.9 million of the nation’s Hispanic population is younger than 18, and about a quarter, or 14.6 million, of all Hispanics are millennials (ages 18 to 33 in 2014).”
Three key drivers were considered when projecting the potential impact of Hispanic homeownership gains on the overall U.S. Economy in the 2016 Hispanic Wealth Project Annual Report, released by the National Association of Hispanic Real Estate Professionals (NAHREP). Yesterday we covered the first key driver and today we will focus on the second.