Kim says that job growth is reaching an important threshold for improved household formation. “The cumulative number of jobs created over the past several years has now reached the point where each new job will drive greater household growth,” Kim writes.
Also, Kim points to the loosening of credit, with more lenders showing willingness to lend to borrowers in the 600-700 FICO range.
Kim also notes that buying a home is still about 20 percent cheaper than renting, and the affordability of housing will be an attraction for first-timers to enter sooner rather than later before mortgage rates and home prices rise more.
Source: Daily Real Estate News