Cobuying Gains Traction Among Young Adults

Faced with rising home prices and student loan debt, some cash-strapped millennials who don’t have family support are teaming up with friends to carve out a path toward homeownership. About 4% of first-time buyers purchased homes with housemates from July 2018 through June 2019, according to data from the National Association of REALTORS®. That is double the percentage from a year ago.
“There’s a lot of people who are looking at homes today and saying, ‘I can’t afford this by myself. I’m [on a] single income. How can I get into a house?’” Jessica Lautz, NAR’s vice president of research, told realtor.com®. “Finding someone who’s renting currently and matches your ideal [co-buyer profile] sounds like a great idea. Why not have a stable home and gain equity at the same time?”
Continue… https://magazine.realtor/daily-news/2020/02/21/cobuying-gains-traction-among-young-adults